How much cash will have accumulated by age 65

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Reference no: EM13335650

a) If an invdividual places $5000 per year into an individual retirement account beginning at age 25, how much cash will have accumulated by age 65 if 9% interest is earned each year?

b) how much income per year will be generated by this sum if a 25 year annuity is purchased which earns 4% interest?

Reference no: EM13335650

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