If Your Parents Put $2,000 a Year into an IRA

question 70

Multiple Choice

If your parents put $2,000 a year into an IRA account for you in each of your last 4 teenage years (age 16,17,18, and 19) , how much would the IRA account have in it at your retirement 45 years later if the account earned 12% each year? (Assume end-of-year payments.)

• A)$1,567,455
• B)$68,613
• C)$3,457,169
• D)$1,148,958

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Definitions:

Transversus Abdominis

A major muscle of the abdominal wall that helps to compress abdominal contents, contributing to core stability and posture.

Rectus Abdominis

A long muscle of the abdomen that assists in respiratory movements and stabilizes the core.

Internal Abdominal Oblique

A muscle located within the abdominal wall, acting to support the abdominal contents and aiding in movements such as twisting.

Erector Spinae

A group of muscles that run vertically along the spine and are responsible for extending, laterally flexing, and rotating the vertebral column.