Multiple Choice
Find the future value of the annuity.
-To save for retirement, you decide to deposit $2250 into an IRA at the end of each year for the next 40 years. If the interest rate is 2% per year compounded annually, find the value of the IRA,
Rounded to the nearest dollar, after 40 years.
A) $301,714
B) $135,904
C) $131,034
D) $2718
Correct Answer:
Verified
Correct Answer:
Verified
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