Connie deposits $2,000 at the end of each year into her Individual Retirement Account (IRA). It earns 8% compounded annually. How much will Connie have after twenty years? Show formula and steps.

Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 15E
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Connie deposits $2,000 at the end of each year into her Individual Retirement Account (IRA). It earns 8% compounded annually. How much will Connie have after twenty years? Show formula and steps.

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