Question: At age 18, someone sets up an IRA (individual retirement account) with an APR of 8%. At the end of each month he deposits

At age 18, someone sets up an IRA (individual retirement account) with

At age 18, someone sets up an IRA (individual retirement account) with an APR of 8%. At the end of each month he deposits $55 in the account. How much will the IRA contain when he retires at age 65? Compare that amount to the total deposits made over the time period. After retirement the IRA will contain $- (Do not round until the final answer. Then round to the nearest cent as needed.)

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Time poriod 65 18 47 APR 6 008 008 12 P Deposit 55 SO ... View full answer

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