A. An individual earns an extra $2000 each year and places this money at the end of each year into an Individual Retirement Account (IRA) in which both the original earnings and the interest in the account are not subject to taxation. If the account has an annual interest rate of 11.2% compounded annually, how much is in the account at the end of 45 years? (Round your answer to the nearest cent.)

B. ew parents wish to save for their newborn's education and wish to have $40,000 at the end of 19 years. How much should the parents place at the end of each year into a savings account that earns an annual rate of 7.1% compounded annually? (Round your answers to two decimal places.) $ How much interest would they earn over the life of the account? $ Determine the value of the fund after 9 years. $ How much interest was earned during the 9th year? $

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