How much will nikki have for her trip, Accounting Basics

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How much will nikki have for her trip

Nikki O'Teen quit smoking on her 25th birthday. She has decided to deposit the money she saves by not smoking into a mutual fund at the end of each year for the next 40 years. She hopes to "take a nice trip when she retires" with the money. She estimates she has been spending $500 per year on cigarettes and believes her mutual fund will earn 8% per year. How much will Nikki have for her trip?

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