4. If you deposit $250 each month into an individual retirement account (IRA) that earns 4.8% interest compounded monthly, a) How much will you have in the account 30 years from now? b) What is the interest earned on the account?
4. If you deposit $250 each month into an individual retirement account (IRA) that earns 4.8% interest compounded monthly, a) How much will you have in the account 30 years from now? b) What is the interest earned on the account?
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 5RE: A retirement account is opened with an initialdeposit of 8,500 and earns 8.12 interest compounded...
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