Solve the Problem. -To Save for Retirement, Sue Decides to Deposit $1500 into Deposit

question 108

Multiple Choice

Solve the problem.
-To save for retirement, Sue decides to deposit $1500 into an IRA at the end of each year for the next 30 years. If the interest rate is 7% per year compounded annually, find the value of the IRA after 30
Years. Round to the nearest dollar.

• A) $2,814,804
• B) $131,020
• C) $141,691
• D) $9918

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