How much money will there be in the account?

CONCEPTS IN FED.TAX.,2020-W/ACCESS
20th Edition
ISBN:9780357110362
Author:Murphy
Publisher:Murphy
Chapter3: Income Sources
Section: Chapter Questions
Problem 79P
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At age 33 Jacob starts making a contribution of $425 at the end of each half-year into a retirement account that pays 6% annually.  He continues to do so for 15 years, until he is 48, and then quits making contributions.  Suppose that he leaves the money in the account until he is 65.

 

How much money will there be in the account?

How much of that money is interest he has earned?

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