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Amy G.

asked • 01/20/14

investment

at the end of each year a self employed person deposits $1500 in a retirement account that earns 10 percent annually. a How much will be in the account when the individual retires at the age of 65 if the contributions start when the person is 45 years old? b how much additional money will be in the account if the individual stops making the contribution at age 65 but deferes retirement until age 70? c how much additional money will be in the account if the individual continues making the contribution but defers retirement until age 70? d Compare the answers to b and c.  what is the effects of continuing the contributions?  how much is the difference between the two answers?

2 Answers By Expert Tutors

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Steve S. answered • 01/20/14

Tutor
5 (3)

Tutoring in Precalculus, Trig, and Differential Calculus

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