At age 23​, someone sets up an IRA​ (individual retirement​ account) with an APR of 7​%. At the end of each month he deposits ​$20 in the account. How much will the IRA contain when he retires at age​ 65? Compare that amount to the total deposits made over the time period.

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter7: Percents
Section7.7: Simple And Compound Interest
Problem 16E
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At age
23​,
someone sets up an IRA​ (individual retirement​ account) with an APR of
7​%.
At the end of each month he deposits
​$20
in the account. How much will the IRA contain when he retires at age​ 65? Compare that amount to the total deposits made over the time period.
 
 
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