How much of the final amount is interest

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Suppose in given Problem that you start the IRA deposits at age 30, but the account earns 6%, compounded continuously.Treat the yearly deposits into the account as a continuous income stream. How much will be in the account 35 years later when you retire at age 65? How much of the final amount is interest?

Problem:-
Starting at age 25, you deposit $2,000 a year into an IRA account.Treat the yearly deposits into the account as a continuous income stream. If money in the account earns 5%, compounded continuously, how much will be in the account 40 years later, when you retire at age 65? How much of the final amount is interest?

Reference no: EM131269900

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