At age 25​, someone sets up an IRA​ (individual retirement​ account) with an APR of 4​%. At the end of each month he deposits ​$95 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

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
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Chapter2: Second-order Linear Odes
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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
​$95
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.
 
 
 

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Part 1
After retirement the IRA will contain
​$enter your response here.
​(Do not round until the final answer. Then round to the nearest cent as​ needed.)
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