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Solve the Problem $950,000\$ 950,000 In It When He Retires in 15 Years

Question 61

Multiple Choice

Solve the problem.
-Mark wants to start an IRA that will have $950,000\$ 950,000 in it when he retires in 15 years. How much should he invest quarterly in his IRA to do this if the interest is 6%6 \% compounded quarterly?


A) $5694.71\$ 5694.71
B) $9860.76\$ 9860.76
C) $24,816.99\$ 24,816.99
D) $9873.76\$ 9873.76

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