Question
Bob makes his first $1800 deposit into an IRA earning 6.6% compounded annually on his 24th birthday and his last $1800 deposit on his 36th
Bob makes his first $1800 deposit into an IRA earning 6.6% compounded annually on his 24th birthday and his last $1800 deposit on his 36th birthday. (13 equal deposits in all.) With no additional deposits, the money in the IRA continues to earn 6.6% interest compounded annually until Bob retires on his 65th birthday. How much is in the IRA when Bob retires?
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Forecasting Principles And Practice
Authors: Rob J Hyndman, George Athanasopoulos
1st Edition
0987507109, 978-0987507105
