Starting at age 30, you deposit $2000 a year into an IRA account for re stream. If money in the account earns 6%, compounded continuously. much of the final amount is interest?
Starting at age 30, you deposit $2000 a year into an IRA account for re stream. If money in the account earns 6%, compounded continuously. much of the final amount is interest?
Chapter10: Exponential And Logarithmic Functions
Section10.2: Evaluate And Graph Exponential Functions
Problem 10.31TI: Angela invested $15,000 in a savings account. If the interest rate is 4%, how much will be in the...
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Starting at age 30, you deposit $2000 a year into an IRA account for retirement. Treat the yearly deposits into the account as a continuous income
stream. If money in the account earns 6%, compounded continuously, how much will be in the account 35 years later, when you retire at age 65? How
much of the final amount is interest?
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What is the value of the IRA when you turn 65?
(Round to the nearest dollar as needed.)
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