Hal invested 2000 per year in an ira each year for 6 years

Reference no: EM13617620

Hal invested $2000 per year in an IRA each year for 6 years earning 15% compounded annually. At the end of 6 years he ceased the IRA payments, but continued to invest his accumulated amount at 15% compounded annually for the next 5 years.

a) What was the value of his IRA at the end of 6 years?

b) What was the value of the investment at the end of the next 5 years?

Reference no: EM13617620

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