Starting at age 25, you deposit $2,000 a year into an IRA account. Treat the yearly deposits

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Starting at age 25, you deposit $2,000 a year into an IRA account. Treat the yearly deposits into the account as a continuous income stream. If money in the account earns 5%, compounded continuously, how much will be in the account 40 years later, when you retire at age 65? How much of the final amount is interest?

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College Mathematics For Business Economics, Life Sciences, And Social Sciences

ISBN: 978-0134674148

14th Edition

Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker

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