Sondra Deposits $2,000 in an IRA Account on April 15

question 99

Multiple Choice

Sondra deposits $2,000 in an IRA account on April 15, 2009. Assume the account will earn 3% annually. If she repeats this for the next nine years, how much will she have on deposit on April 14, 2019?

• A)$20,600.
• B)$20,728.
• C)$23,616.
• D)$24,715.FVAD = $2,000 x 11.8078* = $23,616 *FVAD of $1: n=10; i=3%

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