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Meaganinvests$1,200eachyearinanIRAfor12yearsinanaccountthatearned5%compoundedannually.Attheendof12years,shestoppedmakingpaymentstotheaccount,butcontinuedtoinvestheraccumulatedamountat5%compoundedannuallyforthenext11years. WhatwasthevalueoftheIraattheendof12years?

Meaganinvests$1,200eachyearinanIRAfor12yearsinanaccountthatearned5%compoundedannually.Attheendof12years,shestoppedmakingpaymentstotheaccount,butcontinuedtoinvestheraccumulatedamountat5%compoundedannuallyforthenext11years.

WhatwasthevalueoftheIraattheendof12years?

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