Homework An individual deposits $1,500 in a savings account that pays 3% interest annually. How much will the individual have in 5 years? An individual deposits $2,500 annually in an IRA account and earns 6% annually. How much will they have in 30 years? You begin placing $4,000 into an Individual Retirement Account at age 23 hoping to retire at age 60. If you can earn 7% on your investment, how much will you have at when you would like to retire? You have won a $500 million Lotto and are given the choice of receiving $19,230,769.23 every year for the next 26 years, or receiving one lump sum payment. If the discount rate is 4%, how much would the lump sum payment be