2. Thomas uses $9000 to open an Individual Retirement Account (IRA) that earns 4% APR. He leaves the money alone, what is the future value after 10 years if the interest is compounded quarterly?

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 5RE: A retirement account is opened with an initialdeposit of 8,500 and earns 8.12 interest compounded...
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2. Thomas uses $9000 to open an Individual Retirement Account (IRA) that
earns 4% APR. He leaves the money alone, what is the future value after 10
years if the interest is compounded quarterly?
Transcribed Image Text:2. Thomas uses $9000 to open an Individual Retirement Account (IRA) that earns 4% APR. He leaves the money alone, what is the future value after 10 years if the interest is compounded quarterly?
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