Shaylea

Shaylea, age​ 22, just started working​ full-time and plans to deposit ​$4,700 annually into an IRA earning 9

percent interest compounded annually. Deposits will be made at the end of each year. How much would she have in 20 years, 30 years, and 40 years? If she changed her investment period and instead invested ​$391.67 monthly and the investment also changed to monthly​ compounding, how much would she have after the same three time​ periods? Comment on the differences over time.

With monthly investments and monthly compounding​ interest, after 20 ​years, Shaylea would have ​$___?

Top Answer

 

"Looking for a Similar Assignment? Order now and Get 10% Discount! Use Code "Newclient"