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Jim opens an IRA that earns 8 . 3 5 % compounded annually with a $ 1 4 0 0 deposit on his 1 8
Jim opens an IRA that earns compounded annually with a $ deposit on his th birthday. Jim continues to deposit $ into the IRA on each birthday and makes his last deposit on his th birthday. What is his IRA worth on his th birthday? If no more deposits are made, what equal annual withdrawals can Jim make each year starting on his th birthday and the last withdrawal on his th birthday so that the IRA has a zero balance on his thbirthday? How much interest does this IRA earn?
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