ement account. Assuming you earn an annual rate of return of 9.75 percent make no additional contributions, what will your account be worth when retire in 45 years?

Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 13E
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Q4. You have just made your first $5,000 contribution to your individual
retirement account. Assuming you earn an annual rate of return of 9.75 percent
and make no additional contributions, what will your account be worth when
you retire in 45 years?
Transcribed Image Text:Q4. You have just made your first $5,000 contribution to your individual retirement account. Assuming you earn an annual rate of return of 9.75 percent and make no additional contributions, what will your account be worth when you retire in 45 years?
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