Question
Bob makes his first $2,000 deposit into an IRA earning 8.1% compounded annually on his 24th birthday and his last $2,000 deposit on his 41st
Bob makes his first $2,000 deposit into an IRA earning 8.1% compounded annually on his 24th birthday and his last $2,000 deposit on his 41st
birthday (18 equal deposits in all). With no additional deposits, the money in the IRA continues to earn 8.1% interest compounded annually until Bob retires on his 65th birthday. How much is in the IRA when Bob retires?
The amount in the IRA when Bob retires is ?
(Round to the nearest cent as needed.)
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Stochastic Analysis For Poisson Point Processes
Authors: Giovanni Peccati, Matthias Reitzner
1st Edition
3319052330, 9783319052335
