Like the attached question you have to solve both parts of given question Starting at age 35, you deposit $2000 a year into an IRA account for retirement. Treat the yearly deposits into theaccount as a continuous income stream. If money in the account earns 4%, compounded continuously, how muchwill be in the account 30 years later, when you retire at age 65? How much of the final amount is interest?What is the value of the IRA when you turn 65?(Round to the nearest dollar as needed.) Starting at age 30, you deposit $2000 a year into an IRA account for retirement. Treat the yearly deposits into theaccount as a continuous income stream. If money in the account earns 6%, compounded continuously, how muchwill be in the account 35 years later, when you retire at age 65? How much of the final amount is interest?What is the value of the IRA when you turn 65?$ 238,872 (Round to the nearest dollar as needed.)How much of the future value is interest?$ 168,872 (Round to the nearest dollar as needed.)

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Starting at age 35, you deposit $2000 a year into an IRA account for retirement. Treat the yearly deposits into the account as a continuous income stream. If money in the account earns 4%, compounded continuously, how much will be in the account 30 years later, when you retire at age 65? How much of the final amount is interest? What is the value of the IRA when you turn 65? (Round to the nearest dollar as needed.)

Starting at age 35, you deposit $2000 a year into an IRA account for retirement. Treat the yearly deposits into the account as a continuous income stream. If money in the account earns 4%, compounded continuously, how much will be in the account 30 years later, when you retire at age 65? How much of the final amount is interest? What is the value of the IRA when you turn 65? (Round to the nearest dollar as needed.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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