Use the formula for the value of an annuity to solve Exercises 7784. Round answers to the
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Use the formula for the value of an annuity to solve Exercises 77–84. Round answers to the nearest dollar.
At age 25, to save for retirement, you decide to deposit $50 at the end of each month in an IRA that pays 5.5% compounded monthly.
a. How much will you have from the IRA when you retire at age 65?
b. Find the interest.
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