Bob makes his first $1,600 deposit into an IRA earning 7.1% compounded annually on his 24th birthday and his last $1,600 deposit on his 43rd birthday (20 equal deposits in all). With no additional deposits, the money in the IRA continues to earn 7.1% interest compounded annually until Bob retires on his 65th birthday. How much is in the IRA when Bob retires? The amount in the IRA when Bob retiress is $ (Round to the nearest cent as needed.)
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- Minnie owns a qualified annuity that cost 78,000. The annuity is to pay Minnie 650 per month for life after she reaches age 65. Minnie turns 65 on September 28, 2019, and receives her first payment on November 1, 2019. a. How much gross income does Minnie have from the annuity payments she receives in 2019? b. Shortly after receiving her payment on October 1, 2034, Minnie is killed in an automobile accident. How does the executor of Minnies estate account for the annuity on her return for the year 2034? c. Assume that the accident does not occur until November 1, 2043. How does the executor of Minnies estate account for the annuity on her 2043 return?Bob makes his first $1,600 deposit into an IRA earning 7.8% compounded annually on his 24th birthday and his last $1,600 deposit on his 44th birthday (21 equal deposits in all). With no additional deposits, the money in the IRA continues to earn 7.8% interest compounded annually until Bob retires on his 65th birthday. How much is in the IRA when Bob retires? The amount in the IRA when Bob retires is $. (Round to the nearest cent as needed.) Question Viewer ▸ gin MLM IncorrecBob makes his first $600 deposit into an IRA earning 7.6% compounded annually on his 24th birthday and his last $600 deposit on his 45th birthday (22 equal deposits in all). With no additional deposits, the money in the IRA continues to earn 7.6% interest compounded annually until Bob retires on his 65th birthday. How much is in the IRA when Bob retires? The amount in the IRA when Bob retires is $____ (Round to the nearest cent as needed)
- Bob makes his first $1,400 deposit into an IRA earning 6.8% compounded annually on his 24th birthday and his last $1,400 deposit on his 41st birthday (18 equal deposits in all). With no additional deposits, the money in the IRA continues to earn 6.8% interest compounded annually until Bob retires on his 65th birthday. How much is in the IRA when bob retires?Bob makes his first $1,700 deposit into an IRA earning 7.4% compounded annually on his 24th birthday and his last $1,700 deposit on his 41st birthday (18 equal deposits in all). With no additional deposits, the money in the IRA continues to earn 7.4% interest compounded annually until Bob retires on his 65th birthday. How much is in the IRA when Bob retires? The amount in the IRA when Bob retires is $ (Round to the nearest cent as needed.)K- Bob makes his first $2,000 deposit into an IRA earning 7.9% compounded annually on his 24th birthday and his last $2,000 deposit on his 41st birthday (18 equal deposits in all). With no additional deposits, the money in the IRA continues to earn 7.9% interest compounded annually until Bob retires on his 65th birthday. How much is in the IRA when Bob retires? The amount in the IRA when Bob retires is S (Round to the nearest cent as needed.)
- Bob makes his first $1,000 deposit into an IRA earning 6% compounded annually on the day he turns 22 and his last $1,000 deposit on the day he turns 40 (19 equal deposits in all). With no additional deposits, the money in the IRA continues to earn 6% interest compounded annually until Bob retires on his 65th birthday. How much is the IRA worth when Bob retires? Value of the IRA on Bob's 65th birthday: $Bob makes his first $1,050 deposit into an IRA eaming 6.5% compounded annually on the day he tuns 23 and his last S1,050 depoait on the day he turns 46 (24 equal deposits in al) With no additional deposits, the money in the IRA continues to earn 6.5% interest compounded annually until Bob retires on his 65th birthday. How much is the IRA worth when Bob retires? Value of the IRA on Bob's 65th birthday (Note: The answer in a dolar amount, should include a dollar sign, and should be accurate to two decimal places).Seth starts an IRA (Individual Retirement Account) at the age of 3232 to save for retirement. He deposits $450$450 each month. Upon retirement at the age of 6565, his retirement savings is $488,809.01$488,809.01. Determine the amount of money Seth deposited over the length of the investment and how much he made in interest upon retirement.
- Chase starts an IRA (Individual Retirement Account) at the age of 30 to save for retirement. He deposits $400 each month. Upon retirement at the age of 65 , his retirement savings is $558,638.87 . Determine the amount of money Chase deposited over the length of the investment and how much he made in interest upon retirement.At age 27, Laura deposited $1000 into an IRA, it earns 7 7/8% compounded monthly. A. What will it be worth when she retires at 65? B. How much would it be worth if she didn't set it up until she was 35?Today is Derek's 25th birthday. Derek has been advised that he needs to have $3,863,156.00 in his retirement account the day he turns 65. He estimates his retirement account will pay 9.00% interest. Assume he chooses not to deposit anything today. Rather he chooses to make annual deposits into the retirement account starting on his 27.00th birthday and ending on his 65th birthday. How much must those deposits be?