Question
Ruben invested $1900 per year in an IRA each year for 6 years earning 9% compounded annually.At the end of 6 years he ceased the
Ruben invested $1900 per year in an IRA each year for 6 years earning 9% compounded annually.At the end of 6 years he ceased the IRA payments, but continued to invest his accumulated amount at 9% compounded annually for the next 3 years.
a)What was the value of his IRA at the end of 6 years?
b)what was the value of the investment at the end of the next 3 years?
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Elementary Linear Algebra with Applications
Authors: Howard Anton, Chris Rorres
9th edition
471669598, 978-0471669593
