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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?

Answer = $

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

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