Researching retirement savings online, you found an article from NewRetirement.com with recommendations from financial guru, Dave Ramsey and others. Dave Ramsey recommends investing 15% of every paycheck into a Roth IRA and pre-tax retirement accounts. If your household earns $75,000 annually and you adhere to Ramsey's recommendation, how much will your retirement account be worth if your 15% ordinary annuity earns 9% annually for 30 years? (Use Table 13.1) Note: Do not round intermediate calculations. Round your answer to the nearest dollar. Answer is complete but not entirely correct. $ 1,533,460 Worth of retirement account
Researching retirement savings online, you found an article from NewRetirement.com with recommendations from financial guru, Dave Ramsey and others. Dave Ramsey recommends investing 15% of every paycheck into a Roth IRA and pre-tax retirement accounts. If your household earns $75,000 annually and you adhere to Ramsey's recommendation, how much will your retirement account be worth if your 15% ordinary annuity earns 9% annually for 30 years? (Use Table 13.1) Note: Do not round intermediate calculations. Round your answer to the nearest dollar. Answer is complete but not entirely correct. $ 1,533,460 Worth of retirement account
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 39P
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