Ralph Has Decided to Put $2,400 a Year (At the End

question 182

Multiple Choice

Ralph has decided to put $2,400 a year (at the end of each year) into an IRA over his 40 year working life and then retire. What will Ralph have at retirement if the account earns 10 percent compounded annually?

• A)$394,786
• B)$23,470
• C)$1,062,223
• D)$810,917

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