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How much interest was earned by the time you retire

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Reference no: EM131562528

At age 18 you are trying to decide to set up an IRA (individual retirement account) with an APR of 8%. At the end of each month you could afford to deposit $60 in the account.

A. how much will the IRA contain when you retire at age 65?

B. calculate the amount of total deposits made over the time period.

C. how much interest was earned by the time you retire?

D. compare the amount of interest you earned to the amount of total deposits. what is your decision regarding opening up an IRA for yourself?

Reference no: EM131562528

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