Cameron starts an IRA (Individual Retirement Account) at the age of 36 to save for retirement. She deposits $400 each month. The IRA has an average annual interest rate of 6% compounded monthly. How much money will she have saved when she retires at the age of 65? Round your answer to the nearest cent, if necessary.
Cameron starts an IRA (Individual Retirement Account) at the age of 36 to save for retirement. She deposits $400 each month. The IRA has an average annual interest rate of 6% compounded monthly. How much money will she have saved when she retires at the age of 65? Round your answer to the nearest cent, if necessary.
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Cameron starts an IRA (Individual Retirement Account) at the age of 36 to save for retirement. She deposits $400 each month. The IRA has an average annual interest rate of 6% compounded monthly. How much money will she have saved when she retires at the age of 65? Round your answer to the nearest cent, if necessary.
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