Here's the question you clicked on:

55 members online
  • 0 replying
  • 0 viewing


  • 3 years ago

Ricky is 24 years old and starting an IRA (individual retirement account). He is going to invest $200 at the beginning of each month. The account is expected to earn 2.95% interest, compounded monthly. How much money will Ricky have in his IRA when he retires, at age 65? $108,024.51 $125,609.25 $191,398.49 $265,037.90

  • This Question is Closed
  1. amistre64
    • 3 years ago
    Best Response
    You've already chosen the best response.
    Medals 0

    sounds like a future value of an annuity due

  2. Not the answer you are looking for?
    Search for more explanations.

    • Attachments:

Ask your own question

Sign Up
Find more explanations on OpenStudy
Privacy Policy