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Author Question: Dan plans to fund his individual retirement account (IRA) with a maximum contribution of $2,000 at ... (Read 82 times)

Wadzanai

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Question 1

Consider an investor who invests $600 per month (end-of-month) over thirty years in a mutual fund that earns 1% per month. What is the future value of her savings?
◦ $2,096,978.48
◦ $2,606,514.35
◦ $2,159,806.22
◦ $2,122,696.21
◦ $2,545,722.36

Question 2

Dan plans to fund his individual retirement account (IRA) with a maximum contribution of $2,000 at the end of each year for the next 10 years. If Dan can earn 10 percent on his contributions, how much will he have at the end of tenth year? (Round to the nearest whole dollar)
◦ $12,290
◦ $20,000
◦ $31,875
◦ $51,880
◦ $27,468


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Marked as best answer by Wadzanai on Apr 25, 2021

Missbam101

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Wadzanai

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Reply 2 on: Apr 25, 2021
Great answer, keep it coming :)


lindahyatt42

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Reply 3 on: Yesterday
Gracias!

 

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