Question
Shaylea, age 22, just started working full-time and plans to deposit $5,000 annually into an IRA earning 8 percent interest compounded annually. How much would
Shaylea, age 22, just started working full-time and plans to deposit $5,000 annually into an IRA earning 8 percent interest compounded annually. How much would she have in 20 years, 30 years, and 40 years? If she changed her investment period and instead invested $417.00 monthly, and the investment also changed to monthly compounding, how much would she have after the same three time periods?
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Contemporary Financial Management
Authors: Don Cyr, Alfred Kahl, William Rentz, R. Moyer
1st Edition
017616992X, 978-0176169923
