Question: please answer B using financial formulas and not in excel Name Lab 5 Questions Question 3 - Savings Plan A friend creates an IRA (Individual

please answer B using financial formulas and not in excel

Name Lab 5 Questions Question 3 - Savings Plan A friend creates an IRA (Individual retirement account with an interest rate of 6.25% Sbe starts the IRA at age 25 and deposits $50 per month How much will her IRA contain when she retires are 657 How much did she invest into the Account? How much interest did the savings account acerue (earn)? b. At age 35 you start saving for retirement. Your investment plan pays an APR of 66 and you want to have $2 million when you retire in 30 years. How much should you deposit monthly? How much did you invest into the account? How much interest did the savings account nccrue (carn)

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