Contribution to individual retirement account

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Reference no: EM13947037

You have just made a $1,500 contribution to your individual retirement account. Assume you earn a rate of return of 8.7 percent and make no additional contributions. How much more will your account be worth when you retire in 25 years than it would be if you waited another 5 years before making this contribution?

$6,306.16

$4,658.77

$3,311.18

$6,907.17

$4,117.64

Reference no: EM13947037

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