Question
Shaylea, age 22, just started working full-time and plans to deposit $5 comma 0005,000 annually into an IRA earning 66 percent interest compounded annually. Deposits
Shaylea, age 22, just started working full-time and plans to deposit
$5 comma 0005,000
annually into an IRA earning
66
percent interest compounded annually. Deposits will be made at the end of each year. How much would she have in
2020
years,
3030
years, and
4040
years? If she changed her investment period and instead invested
$416.67416.67
monthly and the investment also changed to monthly compounding, how much would she have after the same three time periods? Comment on the differences over time.Click the table icon to view the future value annuity table
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.
With annual investments and compounding, after
2020
years, Shaylea would have
$nothing.
(Round to the nearest cent.)
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The Essentials Of Machine Learning In Finance And Accounting
Authors: Mohammad Zoynul Abedin, M. Kabir Hassan, Petr Hajek, Mohammed Mohi Uddin
1st Edition
0367480816, 978-0367480813
