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Payments into retirement account

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Savings for Retirement You are graduating from college at the end of this semester and after reading the Business of Life box in this chapter you nhave decided to invest $6,000 at the end of the year into a Roth IRA for the next 46 years . if you earn 9 percent compound annually on your investment how much will you have when you retire in 46 years? How much will you have if you wait 10 years before beginning to save and only make 36 payments into your retirement account?

  • How much will you have when you retire in 46 years?
  • How much will you have if you wait 10 years before beginning to save and only make 36 payments into your retirement account?

Reference no: EM131115384

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