Question: Please show work Would rather the answer be written and not from excel if possible Delores has an investment account (Account #1) with a current

Please show work Would rather the answer be written and not

Please show work

Would rather the answer be written and not from excel if possible

Delores has an investment account (Account #1) with a current balance of $180,000. Delores plans to contribute approximately $1,500 to the account each month until she retires. The account has averaged a return of about 9.5% (APR), compounded monthly, and that is expected to continue. Delores also has an IRA (Account #2). It has a current balance of $32,500. She plans to contribute an additional $5,000 to that account each year until she retires. The IRA has average a return of about 5.25% annually, compounded annually, and this is also expected to continue. Delores plans to retire in about 25 years. (a) What will be the balance in Account #1 when Delores retires? (2 points) (b) What will be the balance in the IRA (Account #2) when Delores retires? (2 points) (c) How much will Delores have in total when she retires if she combines the balances of both accounts into one (1) account? (1 point)

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