Robin, Who Is Self-Employed, Contributes $5,500/year into a Keogh Account

question 205

Short Answer

Robin, who is self-employed, contributes $5,500/year into a Keogh account. How much will he have in the account after 15 years if the account earns interest at the rate of 8.5%/year compounded yearly? Please round the answer to the nearest cent.
$ __________

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Definitions:

Detached

Being emotionally disinterested or indifferent; uninvolved or unconnected.

Communication Behavior

The ways in which individuals convey and interpret messages through verbal and non-verbal means.

Assertive

Behaving confidently and forcefully to express one’s opinions and needs without infringing on the rights of others.

Aggressive

Behaving or acting in a forceful, hostile, or determined way, often to dominate or control others.