Bill plans to fund his individual retirement account (IRA) with the maximum contribution of $2,000 at the
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Question:
Bill plans to fund his individual retirement account (IRA) with the maximum contribution of $2,000 at the end of each year for the next 20 years. If Bill can earn 12 percent on his contributions, how much will he have at the end of the twentieth year?
A) $19,292
B) $14,938
C) $40,000
D) $144,104
8) The future value of a $10,000 annuity due deposited at 12 percent compounded annually for each of the next 5 years is ________.
A) $36,050
B) $63,530
C) $40,376
D) $71,152
can you please show working
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