kevin invest 1200 each year in an IRA for 12 years that is compounded annually...

90.2K

Verified Solution

Question

Finance

kevin invest 1200 each year in an IRA for 12 years that is compounded annually earning 5%
what is the value of the account at this point ?
. after 12 years he doesnt invest any more money into the account. he continues to collect the 5% interest conpounded annually for 11 more years. what is the value of this account

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students