Question

7 points Save Answer Two brothers each open IRAs in 2018 and plan to invest $6,000 per year for the next 25 years. John makes his first deposit on January 1, 2018, and will make all future deposits on the first day of the year. Tom makes his first deposit on December 31, 2018, and will continue to make his annual deposits on the last day of each year. At the end of 25 years, what will be the difference in the value of the IRAs (rounded to the nearest dollar), assuming an interest rate of 7.5% per year? A. $31,367.85 B. Answer can not be found. C. $30,590.04 D. $30,468.98 E. $33,430.43

          7 points
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Two brothers each open IRAs in 2018 and plan to invest $6,000 per year for the next 25 years. John makes his first deposit on January 1, 2018, and will make all future deposits on the first day of the
year. Tom makes his first deposit on December 31, 2018, and will continue to make his annual deposits on the last day of each year. At the end of 25 years, what will be the difference in the value of
the IRAs (rounded to the nearest dollar), assuming an interest rate of 7.5% per year?
A. $31,367.85
B. Answer can not be found.
C. $30,590.04
D. $30,468.98
E. $33,430.43

7 points
Save Answer
Two brothers each open IRAs in 2018 and plan to invest 6,000 per year for the next 25 years. John makes his first deposit on January 1, 2018, and will make all future deposits on the first day of the
year. Tom makes his first deposit on December 31, 2018, and will continue to make his annual deposits on the last day of each year. At the end of 25 years, what will be the difference in the value of
the IRAs (rounded to the nearest dollar), assuming an interest rate of 7.5% per year?
A.31,367.85
B. Answer can not be found.
C. 30,590.04
D.30,468.98
E. 33,430.43

Added by Jason B.

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