Solved: Use the formula for the value of an annuity to solve Exercises 8792. Round
Chapter 11, Problem 89(choose chapter or problem)
Use the formula for the value of an annuity to solve Exercises 8792. Round answers to the nearest dollar.At age 25, to save for retirement, you decide to deposit$50 at the end of each month in an IRA that pays 5.5%compounded monthly.a. How much will you have from the IRA when youretire at age 65?b. Find the interest.
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