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John makes annual deposits of $1000 to an an IRA earning 5% compounded annually for 12 years. a) What was the value of his IRA

John makes annual deposits of $1000 to an an IRA earning 5% compounded annually for 12 years.

a) What was the value of his IRA at the end of 12 years

b) How much can John withdraw each year for the next 19 years at 5 % compounded annually?

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