age 25, someone sets up an IRA (individual retirement account) with an APR of 4%. At the end of each month he deposits $90 in the account. How much will the IRA contain when he retires at age 65? Compare that amount to the total deposits made over the time period. After retirement the IRA will contain how much money?(Do not round until the final answer. Then round to the nearest cent as needed.) The total deposits made over the time period is how much money?(Type a whole number.)
age 25, someone sets up an IRA (individual retirement account) with an APR of 4%. At the end of each month he deposits $90 in the account. How much will the IRA contain when he retires at age 65? Compare that amount to the total deposits made over the time period. After retirement the IRA will contain how much money?(Do not round until the final answer. Then round to the nearest cent as needed.) The total deposits made over the time period is how much money?(Type a whole number.)
Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter7: Percents
Section7.7: Simple And Compound Interest
Problem 15E
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At age 25, someone sets up an IRA (individual retirement account) with an APR of 4%. At the end of each month he deposits $90 in the account. How much will the IRA contain when he retires at age 65? Compare that amount to the total deposits made over the time period.
After retirement the IRA will contain how much money?(Do not round until the final answer. Then round to the nearest cent as needed.)
The total deposits made over the time period is how much money?(Type a whole number.)
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