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jaredfifa
02.10.2019 •
Mathematics
Lynne is 25 years old and starting and ira (individual retirement account). she is going to invest $150 at the beginning of each month. the account is expected to earn %5.5 interest, compounded monthly. how much money rounded to the nearest dollar will lynne have in her ira if she wants to retire at age 65
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Ответ:
P = A[(1+i)^n-1)]/(i)
A= amortization
i= 5.5%
n = 40*12 = 480
Subsituting the variables in th formula, Future amount of Lynne in 40 years is equal to
P = $29,082.71
Ответ: