How much will there be in the account

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Question - Paul started a new job that offers IRA retirement plan. Paul will join companys plan. Paul will be depositing $5,000 each year into an IRA account that pays 5% annually.

a) If Paul stays with the company for 40 years, how much will there be in the account?

b) How much interest will have been earned over 40 years?

Reference no: EM132956978

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