Question: Mindy is trying to decide whether she should make her IRA contribution at the beginning of the year or at the end of the year.

Mindy is trying to decide whether she should make her IRA contribution at the beginning of the year or at the end of the year. She wants to save $5,000 per year for 25 years in her IRA that can earn 7% per year. What would be the difference in her account value if she made the payments at the beginning of each year rather than at the end?
a. $22,137.
b. $28,041.
c. $316,245.
d. $338,382.

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