Taylor starts an IRA (Individual Retirement Account) at the age of 26 to save for retirement. She deposits $450 each month. The IRA has an average annual interest rate of 5%. How much money will she have saved when she retires at the age of 65? Round your answer to the nearest cent, if necessary.

Taylor starts an IRA (Individual Retirement Account) at the age of 26 to save for retirement. She deposits $450 each month. The IRA has an average annual interest rate of 5%. How much money will she have saved when she retires at the age of 65? Round your answer to the nearest cent, if necessary.

Intermediate Algebra

19th Edition

ISBN:9780998625720

Author:Lynn Marecek

Publisher:Lynn Marecek

Chapter2: Solving Linear Equations

Section2.2: Use A Problem Solving Strategy

Problem 2.50TI: Susana invested a principal of $36,000 in her bank account that earned simple interest at an...

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