Solution-What was the value of his ira at the end of 12

What was the value of his ira at the end of 12 years

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Reference no: EM132495443

John makes annual deposits of $1500 to an an IRA earning 6% compounded annually for 12 years.

a) What was the value of his IRA at the end of 12 years?

Answer = $

b) How much can John withdraw each year for the next 21 years at 6 % compounded annually?

(Hint: Consider John wants his money back from IRA, in other words, IRA now owes him money. Which formula do you need to use?)

Answer = $

Reference no: EM132495443

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What was the value of his ira at the end of 12 years

Reference no: EM132495443

Reference no: EM132495443

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