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When Jamal graduated from college recently, his parents gave him $ 1 , 5 9 0 and told him to use it wisely. Jamal decided
When Jamal graduated from college recently, his parents gave him $ and told him to use it wisely. Jamal decided to use the
money to start a retirement account. After doing some research about different options, he put the entire amount into a tax
deferred IRA that pays percent interest, compounded annually. Calculate how much money Jamal will have in his IRA at the end
of years, assuming that the interest rate remains the same and that he does not deposit any additional money. Use Exhibit A
Exhibit B Exhibit C Exhibit D
Note: Use appropriate factors from the tables provided. Round time value factor to decimal places and answer to decimal
places.
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