You intend to make the annual maximum contribution of $6,000 to your Roth IRA (individual retirement account) at the end of each year for the next 30 years.  If you can earn 10 percent on your contributions, how much will you have at the end of the thirtieth year? Include the follwing variables to help you solve the problem: m Nper (or N) =n*m Rate (or I/Y)=i/m PV PMT FV

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 39P
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You intend to make the annual maximum contribution of $6,000 to your Roth IRA (individual retirement account) at the end of each year for the next 30 years.  If you can earn 10 percent on your contributions, how much will you have at the end of the thirtieth year? Include the follwing variables to help you solve the problem:

m
Nper (or N) =n*m
Rate (or I/Y)=i/m
PV
PMT
FV
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