Sondra Deposits $2,000 in an IRA Account on April 15

Multiple Choice

Sondra deposits $2,000 in an IRA account on April 15, 2009. Assume the account will earn 3% annually. If she repeats this for the next nine years, how much will she have on deposit on April 14, 2019?

A) $20,600.
B) $20,728.
C) $23,616.
D) $24,715.FVAD = $2,000 x 11.8078* = $23,616 *FVAD of $1: n=10; i=3%