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When Shannon Pegnim was 1 4 , she got an after - school job at a local pet shop. Her parents told her that if
When Shannon Pegnim was she got an afterschool job at a local pet shop. Her parents told her that if she put some of her earnings into an IRA, they would contribute an equal amount to her IRA. That year and every year thereafter, she deposited $ into her IRA. When she became years old, her parents stopped contributing, but Shannon increased her annual deposit to $ and continued depositing that amount annually until she retired at age Her IRA paid interest. Find the following. Round your answers to the nearest cent.
a The future value of the account
$
Incorrect: Your answer is incorrect.
b Shannon's and her parents' total contributions to the account
Shannon $
Incorrect: Your answer is incorrect.
Shannon's parents $
Incorrect: Your answer is incorrect.
c The total interest
$
Incorrect: Your answer is incorrect.
d The future value of the account if Shannon waited until she was before she started her IRA
$
Incorrect: Your answer is incorrect.
e The future value of the account if Shannon waited until she was before she started her IRA
$
Incorrect: Your answer is incorrect.
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