Question: thank you for your help Part B - Free Response Questions (Show your work for each problem) (60 points) Q1. (a). Suppose you set up

thank you for your help Part B - Free Response Questions

thank you for your help

Part B - Free Response Questions (Show your work for each problem) (60 points) Q1. (a). Suppose you set up a new IRA(Individual Retirement Account) that pays an APR of 5.1% compounded monthly. If you contribute $150 per month for 15 years, how much will the IRA contain at the end of that time? (5 points) Soln. (b). Brandi deposits $75 at the end of each month into an account with APR of 7% for 10 years. Assume the payment period is the same as the compounding period. How much will the account contain at the end of that period? How much did Brandi deposit? ( 5 points) Soln

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