at the age of 25 to say for retirement, you decide to deposit $10 at the end of each month and then IRA that pays 4% compounded monthly. a.Use the following formula to determine how much you will have an IRA while you retire at age 65 ? b.Find the interest

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
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at the age of 25 to say for retirement, you decide to deposit $10 at the end of each month and then IRA that pays 4% compounded monthly. a.Use the following formula to determine how much you will have an IRA while you retire at age 65 ? b.Find the interest
A =
A=
P[(1 + r)²-1]
r
P
1+
n
| C
n
nt
or
Transcribed Image Text:A = A= P[(1 + r)²-1] r P 1+ n | C n nt or
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