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Billy Bob Has Decided to Put $2,400 a Year (At

Question 14

Multiple Choice

Billy Bob has decided to put $2,400 a year (at the end of each year) into an IRA over his 40-year working life and then retire. What will Billy have if the account will earn 10 percent compounded annually?


A) $394,786
B) $23,470
C) $1,062,223
D) $810,917

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