Dave just got his first full-time job after graduating from high school at age 18. He decided to invest $450 per month in an IRA (an annuity). The interest on the annuity is 6% which is compounded monthly. How much will be in Adam’s account when he retires at his sixty-fifth birthday?
Added by Molly J.
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Dave is 18 years old and plans to retire at 65, so he will be investing for 65 - 18 = 47 years. Show more…
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