Multiple Choice
James plans to fund his individual retirement account, beginning today, with 20 annual deposits of $2,000, which he will continue for the next 20 years. If he can earn an annual compound rate of 8 percent on his deposits, the amount in the account upon retirement will be ________.
A) $19,636
B) $91,524
C) $98,846
D) $21,207
Correct Answer:
Verified
Correct Answer:
Verified
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