At age 25, to save for retirement, you decide to deposit $250 at the end of each month into an IRA that pays 8.1% compounded monthly. How much would you have in the IRA when you retire at age 60?
At age 25, to save for retirement, you decide to deposit $250 at the end of each month into an IRA that pays 8.1% compounded monthly. How much would you have in the IRA when you retire at age 60?
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 14PROB
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At age 25, to save for retirement, you decide to deposit $250 at the end of each month into an IRA that pays 8.1% compounded monthly.
How much would you have in the IRA when you retire at age 60?
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