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At age 22, someone sets up an IRA (individual retirement account) with an APR of 6%. At the end of each month he deposits
At age 22, someone sets up an IRA (individual retirement account) with an APR of 6%. At the end of each month he deposits $30 in the account. How much will the IRA contain when he retires age 65? Compare that amount to the total deposits made over the time period. After retirement the IRA will contain $ (Do not round until the final answer. Then round to the nearest cent as needed.)
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Financial Accounting Information For Decisions
Authors: Robert w Ingram, Thomas L Albright
6th Edition
9780324313413, 324672705, 324313411, 978-0324672701
