At the age of 32 to save for retirement you decide to

Last updated: 3/21/2023

At the age of 32 to save for retirement you decide to deposit 60 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 1 2 A A C IE Find the interest nt or This question 1 point s possible 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 b The interest is approximately Use the answer from part a to find this answer Round to the nearest dollar as needed