FINANCIAL ACCT.FUND.(LOOSELEAF)
7th Edition
ISBN: 9781260482867
Author: Wild
Publisher: MCG
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Chapter B, Problem 7QS
To determine
Annuity:
An annuity refers to a series of fixed
To identify: The future value of an annuity.
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Future value of an ordinary annuity: Cecelia Thomas is a sales executive at a Baltimore firm. She is 25 years old and plans to invest $3,000 every year in an IRA account, beginning at the end of this year until she reaches the age of 65. If the IRA investment will earn 9.75 percent annually, how much will she have in 40 years, when she turns 65? Please use Excel to solve
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FINANCIAL ACCT.FUND.(LOOSELEAF)
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