Starting at age35 , 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 5 %, compounded continuously, how much will be in the account30 years later, when you retire at age 65? How much of the final amount is inte rest?

Starting at age35 , 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 5 %, compounded continuously, how much will be in the account30 years later, when you retire at age 65? How much of the final amount is inte rest?

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter6: Exponential And Logarithmic Functions

Section: Chapter Questions

Problem 8RE: Suppose an investment account is opened with aninitial deposit of 10,500 earning 6.25...

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