Starting in one year, you plan to contribute $5,503 per-year into a Roth IRA. You are...

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Starting in one year, you plan to contribute $5,503 per-year into a Roth IRA. You are planning on only ten annual contributions (e.g. age 22 to 32). Then, you plan to let the funds sit in your Roth IRA account until you retire thirty-five years later (e.g. age 32 to 67). How much money will you have in your Roth IRA at retirement (e.g. age 67) given your securities yield 11.25%? Starting in one year, you plan to contribute $5,503 per-year into a Roth IRA. You are planning on only ten annual contributions (e.g. age 22 to 32). Then, you plan to let the funds sit in your Roth IRA account until you retire thirty-five years later (e.g. age 32 to 67). How much money will you have in your Roth IRA at retirement (e.g. age 67) given your securities yield 11.25%?

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To determine how much money will be in the Roth IRA at retirement we need to calculate the future va... View the full answer