Solve. -Jack Decided to Put $600 into an IRA Account Every

question 66

Multiple Choice

Solve.
-Jack decided to put $600 into an IRA account every 3 months at a rate of 6% compounded quarterly. Find arecursive formula that represents his balance at the end of each quarter. How long will it be before thevalue of the account is $100,000? What will be the balance in 30 years when Jack retires?

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