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sions Help Meagan invested $ 1 , 2 0 0 each year in an IRA for 1 2 years in an account that earned 5

sions Help
Meagan invested $1,200 each year in an IRA for 12 years in an account that earned 5% compounded annually. At the end of 12 years, she stopped making payments to the account, but continued to invest her accumulated amount at 5% compounded annually for the next 11 years.
a.[3 pts] What was the value of the IRA at the end of 12 years?
(Grade breakdown: 1 for correct formula; 1 for plugging in; .5 answer; .5 for reasoning) Work (2 pts)
Replace these words with a cropped picture of your WORK ONLY for only question 1 a.
Answer (0.5 nt)
Explanation (0.5pt
b.[2 pts] What was the value of the investment at the end of the next 11 years?
(Grade breakdown: .5 for correct formula; .5 for plugging in; .5 answer; .5 for reasoning) Work (1 pt)
Replace these words with a cropped picture of your WORK ONLY for only question 1b.
Answer (0.5pt
image text in transcribed

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