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When Zeke was 1 6 years old, he got an after school job at this parent s restaurant. His parents told him that if he
When Zeke was years old, he got an after school job at this parents
restaurant. His parents told him that if he put some of his earnings into an
IRA, they would contribute an equal amount to his IRA. That year, and
every year thereafter, Zeke deposited $ into his IRA. When Zeke reached
years old, his parents stopped contributing, but Zeke increased his annual
deposit to $ and continued to deposit that amount annually until he
retired at age His IRA paid
interest. Determine the following:
a The future value of the account.
b Zekes total contributions and his parents total contributions to the account.
c The total interest.
d The future value of the account if Zeke waited until he was before he
started the IRA.
e The future value of the account if Zeke waited until he was before he
started the IRA.
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