Question: worker a annually invests $1000 in an IRA for 9 yrs(ages 27-35) and never makes anothere contribution. Worker b annually invests $1000 in an IRA

worker a annually invests $1000 in an IRA for 9 yrs(ages 27-35) and never makes anothere contribution. Worker b annually invests $1000 in an IRA for 30 yrs(ages 36-65). Which worker will have more in his or her account when he or she retires if they both earn 8% on their investment? How much?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!