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At the age of 33, to save for retirement, you decide to deposit $40 at the end of each month in an IRA that pays
At the age of 33, to save for retirement, you decide to deposit $40 at the end of each month in an IRA that pays 5% compound monthly. Use the following formula to determine how much you will have in the IRA when you retire at age 65. A = P [(1+r)-1]/r or A = P [(1 + r)^nt -1]/r Find the interest You will have approximately $ in the IRA when you retire. The interest is approximately $. Enter your answer in each of the answer boxes
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