Question
To save for retirement, Joe, at age 35, decides to place $2000 into an IRA (Individual Retirement Account) each year for the next 30 years.
To save for retirement, Joe, at age 35, decides to place $2000 into an IRA (Individual Retirement Account) each year for the next 30 years. What value will that account have after the 30th deposit, if the account pays 4% interest annually and is compounded once a year?
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Personal Finance An Integrated Planning Approach
Authors: Ralph R Frasca
8th edition
136063039, 978-0136063032
