Researching retirement savings online, you found an article from NewRetirement.com with recommendations from financial guru, Dave Ramsey and others. Dave Ramsey recommends investing 15% of every paycheck into a Roth IRA and pre-tax retirement accounts. If your household earns $75,000 annually and you adhere to Ramsey's recommendation, how much will your retirement account be worth if your 15% ordinary annuity earns 9% annually for 30 years?

Do not round intermediate calculations. Round your answer to the nearest dollar.

Answer rating: 100% (QA)

To solve this problem we need to calculate the future value of the 15 retirement contributions made annually over a 30year period assuming a 9 annual rate of return Given information Household annual income 75000 Retirement contribution ... View the full answer