Multiple Choice
Solve the problem.
-To save for retirement, Sue decides to deposit $2000 into an IRA at the end of each year for the next 30 years. If the interest rate is 5% per year compounded annually, find the value of the IRA after 30 years. (Round to the
Nearest dollar.)
A) $124,645
B) $1,048,668
C) $6644
D) $132,878
Correct Answer:
Verified
Correct Answer:
Verified
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