Question: John has established a Roth IRA and is contributing $266 per month. If he continues to do so over the next 10 years, earns 7%,


John has established a Roth IRA and is contributing $266 per month. If he continues to do so over the next 10 years, earns 7%, annually, and makes his contributions at the beginning of each month, he will have approximately how much in his account at the end of the period? O A. 44,102 B. 46,309 C. 46,041 D. 47,880 Jane is wanting to go to Aruba for a vacation in 3 years. She is planning on it costing $6,000. Assuming she sets aside funds at the end of each month in her money market account and it continues to earn 2.25%, how much will she need to set aside each month to meet her goal? O A. $127 B. $141 C. $161 D. $173
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
