a) if an individual places $4000 per year into a Roth individual retirement acco

Question

a) if an individual places $4000 per year into a Roth individual retirement account beginning at age of 35, how much cash will have accumulated by age 65 if 8% interest is earned each year?

b) how much income per year will be generated by this sum if a 25 year annuity is purchased which earns 4% annual interest?

c) how much cash will an individual have at age 65 if he or she invests $4000 per year into a Roth IRA beginning at age 25 and earns 9% interest per year?

d) how much income per year will be generated by this sum if a 25 year annuity is purchased which earns 4% annual interest?

Explanation / Answer

a)

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