US tax law allows taxpayers to deposit $5500ler year in tax-sheltered individual retirement account (IRAs...
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US tax law allows taxpayers to deposit $5500ler year in tax-sheltered individual retirement account (IRAs . Assume an individual deposits $50,000 at the beginning and $5500 at the end of each year at a continuous interest rate 8%. Write a IVP that represents this problemi and find the solution of the IVP. Also, find how long will it take to produce $1,000,000. (round your answer to nearest integer)
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