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The contribution into an IRA for a particular year can be made any time from January 1 of that year to April 1 5 of
The contribution into an IRA for a particular year can be made any time from January of that year to April of the following year. Suppose Enid and Lucy both set up traditional IRA accounts on January of and each contributes $ into her account for ten years at interest compounded annually. Assume that Enid makes her contributions as soon as possible and Lucy makes her contributions one year later. Calculate the balances in the two accounts at the time Lucy makes her final contribution.
Enid's balance is $ Round to the nearest cent as needed.
Lucy's balance is $ Round to the nearest cent as needed.
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