Multiple Choice
James plans to fund his individual retirement account, beginning today, with 20 annual deposits of$2,000, which he will continue for the next 20 years. If he can earn an annual compound rate of 8percent on his deposits, the amount in the account upon retirement will be________ .
A) $21,207
B) $91,524
C) $98,846
D) $19,636
Correct Answer:
Verified
Correct Answer:
Verified
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