Question
At age 20 someone sets up an IRA(individual retirementaccount) with an APR of 7 %. At the end of each month he deposits $55 in
At age 20 someone sets up an IRA(individual retirementaccount) with an APR of 7%. At the end of each month he deposits $55 in the account. How much will the IRA contain when he retires at age65? Compare that amount to the total deposits made over the time period.
After retirement the IRA will contain $
nothing
(Do not round until the final answer. Then round to the nearest cent asneeded.)
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Financial Reporting And Analysis
Authors: Lawrence Revsine, Daniel Collins
4th Edition
0073527092, 978-0073527093
