age 25​, someone sets up an IRA​ (individual retirement​ account) with an APR of 4​%. At the end of each month he deposits ​$90 in the account. How much will the IRA contain when he retires at age​ 65? Compare that amount to the total deposits made over the time period. After retirement the IRA will contain how much money?​(Do not round until the final answer. Then round to the nearest cent as​ needed.) The total deposits made over the time period is how much money?​(Type a whole​ number.)

Elementary Algebra
17th Edition
ISBN:9780998625713
Author:Lynn Marecek, MaryAnne Anthony-Smith
Publisher:Lynn Marecek, MaryAnne Anthony-Smith
Chapter1: Foundations
Section1.2: Use The Language Of Algebra
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At age 25​, someone sets up an IRA​ (individual retirement​ account) with an APR of 4​%. At the end of each month he deposits ​$90 in the account. How much will the IRA contain when he retires at age​ 65? Compare that amount to the total deposits made over the time period.

After retirement the IRA will contain how much money?​(Do not round until the final answer. Then round to the nearest cent as​ needed.)

The total deposits made over the time period is how much money?​(Type a whole​ number.)

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