Question
You plan to fund your individual retirement account (IRA) with the contribution of $5,000 at the beginning of each year for the next 30 years.
You plan to fund your individual retirement account (IRA) with the contribution of
$5,000 at the beginning of each year for the next 30 years. If the annual interest rate
is 4%, how much will he have at the end of the 30th year?
- $150,000
- $280,425
- $291,642
- none of the above; the correct answer is ____
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Financial Markets And Institutions
Authors: Jeff Madura
8th Edition
0324568215, 978-0324568219
