Starting at age35,you deposit $2000 a year into an IRA account for retirement. Treat the yearly deposits
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Question:
Starting at age35,you deposit $2000 a year into an IRA account for retirement. Treat the yearly deposits into the account as a continuous income stream. If money in the account earns 6%, compounded continuously, how much will be in the account 30years later, when you retire at age 65? How much of the final amount is interest?
What is the value of the IRA when you turn 65?
$_____________(Round to the nearest dollar as needed.)
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