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Retirement account in years

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Reference no: EM131742617

Assume that you have tried to save $2000 per year in an IRA (Individual Retirement Account) for the past 20 years and have earned an average of 11%. However, due to the purchase of a new home and some other expenditure, you were unable to make any contributions to the retirement account in years 8, 9, and 10. How much would you have in your IRA at the end of your working career, i.e., t=20?

Reference no: EM131742617

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