At the age of 24 to save for retirement you decide to

Last updated: 10/9/2023

At the age of 24 to save for retirement you decide to deposit 10 at the end of each month in an IRA that pays 5 5 compounded monthly a b Use the following formula to determine how much you will have in the IRA when you retire at age 65 P 1 r 1 A A P nt A Find the interest or a You will have approximately in the IRA when you retire Do not round until the final answer Then round to the nearest dollar as needec