Use the appropriate formula located on Illustration 10-1 on page 209 to solve the problem. You decide that you want to open an IRA and plan on depositing $150 every month into an account that earns 5% compounded monthly. How long will it take you to accumulate $300,000, the amount you think will be enough to live off of after you retire? State answer in years rounded to the nearest hundredth. Hint: The formula on the table set on page 209 will give answers based on the compounding period. Which means that if the compounding is monthly, then the formula will give months