Bill makes annual deposits of $1800 to an an IRA earning 4% compounded annually for 12...

 

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Bill makes annual deposits of $1800 to an an IRA earning 4% compounded annually for 12 years. At the end of the 12 years Bill retires. a) What was the value of his IRA at the end of 12 years? Answer = $ 2881.86 b) What is the largest amount Bill may withdraw annually for the next 23 years at 4 % compounded annually? Answer = $ 308.712 Bill makes annual deposits of $1800 to an an IRA earning 4% compounded annually for 12 years. At the end of the 12 years Bill retires. a) What was the value of his IRA at the end of 12 years? Answer = $ 2881.86 b) What is the largest amount Bill may withdraw annually for the next 23 years at 4 % compounded annually? Answer = $ 308.712