Question: Problem 6: Calculating Future Values. You have just made a $1,400 contribution to your individual retirement account (IRA). Assume you earn an 11.00% rate of

Problem 6: Calculating Future Values. You have just made a $1,400 contribution to your individual retirement account (IRA). Assume you earn an 11.00% rate of return and make no additional contributions. 6a. When you retire in 25 years, the account will be worth $_ 6a. Points: 5 6b. If you wait 5 years before making your initial contribution, the account will be worth $ 6b. Points: 5

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