If You Open an IRA and Invest $2,000 a Year

question 20

Essay

If you open an IRA and invest $2,000 a year (at the end of the year),how much will be in the account after twenty-five years if the funds earn 10 percent annually? How much would be in the account if payments were made at the beginning of the year?

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Definitions:

Agnostic

Pertaining to the belief that the existence or non-existence of a deity or deities cannot be known or proven.

Diabetic Ketoacidosis

A serious diabetes complication where the body produces excess blood acids (ketones) due to a lack of insulin.

Religious Fast

A period of abstinence from all or some kinds of food or drink, often observed due to religious reasons.

Strong Inclination

A powerful tendency or preference towards a particular thinking, feeling, or action.