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Suppose that at age 25, you decide to save for retirement by depositing $95 at the end of every month in an IRA that pays 4.25% compounded monthly. How much will you have from the IRA when you retire at age 65? Find the interest.

Suppose that at age 25, you decide to save for retirement by depositing $95 at the end of every month in an IRA that pays 4.25% compounded monthly. How much will you have from the IRA when you retire at age 65? Find the interest.

Advanced Engineering Mathematics
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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Suppose that at age 25, you decide to save for retirement by depositing $95 at the end of every month in an IRA that pays 4.25% compounded monthly. How much will you have from the IRA when you retire at age 65? Find the interest. O $119,567; $73,967 $118,696; $73,096 $146,390; $100,790 O $12,735,807,037,013; $12,735,806,991,413
Transcribed Image Text:Suppose that at age 25, you decide to save for retirement by depositing $95 at the end of every month in an IRA that pays 4.25% compounded monthly. How much will you have from the IRA when you retire at age 65? Find the interest. O $119,567; $73,967 $118,696; $73,096 $146,390; $100,790 O $12,735,807,037,013; $12,735,806,991,413
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