If you save $1000 a year for 4 years at a 7% annual rate then add no
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If you save $1000 a year for 4 years at a 7% annual rate then add no more money to your account but let the balance compound for 6 more years at 7%, what will your accumulated savings be at the end of Year 10? A 25-year old architect contributes $4000 to an individual Retirement Account. She plans to contribute this same amount each year for 40 years. If the Interest rate Is 6% over the 40 years, how much wil she accumulate in her account? If an architect wants to end up with $1,000,000 at the end of 40 years, how much must she save tax free each year If the interest rate is 6%?
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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