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At the age of 31, to save for retirement, you decide to deposit $10 at the end of each month in an IRA that pays
At the age of 31, to save for retirement, you decide to deposit $10 at the end of each month in an IRA that pays 6.5% compounded monthly. a. Use the following formula to determine how much you will have in the IRA when you retire at age 65. a. You will have approximately $ in the IRA when you retire. (Do not round until the final answer. Then round to the nearest dollar as needed.) b. The interest is approximately $ : (Use the answer from part a to find this answer. Round to the nearest dollar as needed A=P[(1 +1] of b. Find the interest
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