At the age of 30 to save for retirement you decide to

Last updated: 3/21/2023

At the age of 30 to save for retirement you decide to deposit 70 at the end of each month in an IRA that pays 4 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 r A A P nt 8 Find the interest or 1 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 needed