Multiple Choice
Find the future value of the annuity.
-To save for retirement, you decide to deposit $2500 into an IRA at the end of each year for the next 30 years. If the interest rate is 3% per year compounded annually, find the value of the IRA,
Rounded to the nearest dollar, after 30 years.
A) $3568
B) $396,577
C) $118,939
D) $113,047
Correct Answer:
Verified
Correct Answer:
Verified
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