Ask Question

The correct answer is $127,316 but how do you get that answer. I know this from the feedback i received but how do you solve this to get that?

Larry is 32 years old and starting an IRA (individual retirement account). He is going to invest $250 at the beginning of each month. The account is expected to earn 3.5% interest, compounded monthly. How much money, rounded to the nearest dollar, will Larry have in his IRA if he wants to retire at age 58?

+1
Answers (1)
  1. 17 November, 04:10
    0
    Your son or daughter can open an IRA as soon as he or she has earned income.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “The correct answer is $127,316 but how do you get that answer. I know this from the feedback i received but how do you solve this to get ...” in 📗 Advanced Placement (AP) if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers