Refer to Problems 39 and 40 . Suppose that Bob decides to continue to make $1 .000 deposits into his IRA every year until his 65 th birthday. If John still waits until he is 36 to start his IRA, how much must he deposit each year in order to have the same amount at age 65 as Bob has?
Refer to Problems 39 and 40 . Suppose that Bob decides to continue to make $1 .000 deposits into his IRA every year until his 65 th birthday. If John still waits until he is 36 to start his IRA, how much must he deposit each year in order to have the same amount at age 65 as Bob has?
Solution Summary: The author calculates the amount John must deposit each year in order to have the same amount as Bob at age 65.
Refer to Problems
39
and
40
. Suppose that Bob decides to continue to make
$1
.000
deposits into his IRA every year until his
65
th
birthday. If John still waits until he is
36
to start his IRA, how much must he deposit each year in order to have the same amount at age
65
as Bob has?
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