At age 25, to save for retirement, you decide to deposit $50 at the end of each month in an IRA that pays 5.5% compounded monthly. Solve, a. How much will you have from the IRA when you retire at age 65? b. Find the interest. (Round answers to the nearest dollar).

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Q: what is the value of your retirement plan after the 50 years? (Do not 3 decimal places)

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A: Calculate the monthly saved amount as follows:

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A: Annual rate (r) = 3% or 0.03Annual Payment (P) = $1,400Number of years (n) = 65 - 25 = 40Payment…

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Q: payment necessar se a home, a family Round the answer

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A: The FV of an investment refers to the cumulative worth of the investment's cash flows at a future…