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modern differential equations 1.3 Person A opens at age 25 contributes year for 10 years, but makes no additional contributions thereafter. Person B waits until
modern differential equations
1.3 Person A opens at age 25 contributes year for 10 years, but makes no additional contributions thereafter. Person B waits until age 35 to open an IRA and contributes $2000/year for 30 years. There is no initial investment in either case. (a) Assuming a return rate of 8%, what is the balance in each IRA at age 65? (b) For a constant, but unspecified, return rate r, determine the balance in each IRA at age 65 as a function of r (c) Plot the difference in the balances from part (b) for 0 S r S 0.10 (d) Determine the return rate for which the two IRA's have equal value at age 65Step by Step Solution
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