Lisa and Mark married at age 20. Each year until their 30th birthdays, they put...
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Finance
Lisa and Mark married at age
20.
Each year until their
30th
birthdays, they put
$2,700
into their traditional IRAs. By age
30,
they had bought a home and started a family. Although they continued to make contributions to their employer-sponsored retirement plans, they made no more contributions to their IRAs. If they receive an average annual return of
6%,
how much will they have in their IRAs by age
60?
What was their total investment?
Part 2
If they receive an average annual return of
6%,
the amount they will have in their IRAs by age
60
is
$enter your response here.
(Round to the nearest dollar.)
Part 3
Their total investment was
$enter your response here.
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