You are graduating from college at the end of this semester and have decided to...
90.2K
Verified Solution
Link Copied!
Question
Finance
You are graduating from college at the end of this semester and have decided to invest $3,000 at the end of each year into a Roth IRA (a retirement investment account that grows tax free and is not taxed when it is liquidated) for the next 50 years. If you earn 5 percent compounded annually on your investment of $3,000 at the end of each year, how much will you have when you retire in 50 years? How much will you have if you wait 10 years before beginning to save and only make 40 payments into your retirement account? Click on the table icon to view the annuity table When you retire in 50 years, you will have $ (Round to the nearest dollar.)
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!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.