Question: Shaylea, age 22 , just started working full-time and plans to deposit $4,900 annually into an IRA earning 6 percent interest compounded annually. How much

Shaylea, age 22 , just started working full-time and plans to deposit $4,900 annually into an IRA earning 6 percent interest compounded annually.

Shaylea, age 22 , just started working full-time and plans to deposit $4,900 annually into an IRA earning 6 percent interest compounded annually. How much would she have in 20 years, 30 years, and 40 years? If she changed her investment period and instead invested $408.33 monthly, and the investment also changed to monthly compounding, how much would she have after the same three time periods? Comment on the differences over time. Future Value of a Series of Annual Deposits (annuity), Future-Value Interest Factor of an Annuity Shaylea, age 22 , just started working full-time and plans to deposit $4,900 annually into an IRA earning 6 percent interest compounded annually. How much would she have in 20 years, 30 years, and 40 years? If she changed her investment period and instead invested $408.33 monthly, and the investment also changed to monthly compounding, how much would she have after the same three time periods? Comment on the differences over time. Future Value of a Series of Annual Deposits (annuity), Future-Value Interest Factor of an Annuity

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