You graduate from college and get your first job. You open a Roth IRA with $2,000 at the age of 25. You invest $3,000 at age 26, $4,000 at age 27, and $5,000 at age 28. You then receive a promotion that brings your income to a level that disqualified you from making further contributions to the Roth IRA. Construct a table that shows how much will you have in your IRA at the age of 60 if you had invested in an account that paid an average yield of 8 percent.
You graduate from college and get your first job. You open a Roth IRA with $2,000 at the age of 25. You invest $3,000 at age 26, $4,000 at age 27, and $5,000 at age 28. You then receive a promotion that brings your income to a level that disqualified you from making further contributions to the Roth IRA. Construct a table that shows how much will you have in your IRA at the age of 60 if you had invested in an account that paid an average yield of 8 percent.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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You graduate from college and get your first job. You open a Roth IRA with $2,000 at the age of 25. You invest $3,000 at age 26, $4,000 at age 27, and $5,000 at age 28. You then receive a promotion that brings your income
to a level that disqualified you from making further contributions to the Roth IRA. Construct a table that shows how much will you have in your IRA at the age of 60 if you had invested in an account that paid an average
yield of 8 percent.
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