Which is assumed to be attainable over the next 40 years

Reference no: EM13297659

Hal Thomas, a 25-year old college graduate, wishes to retire at age 65. To supplement other sources of retirement income, he can deposit $2000 each year into a tax-deferred individual retirement arrangement (IRA). The IRA will be invested to earn an annual return of 10%, which is assumed to be attainable over the next 40 years. If Hal makes end of year $2000 deposits into the IRA, how much will he have accumulated by the end of his sixty-fifth year?

Reference no: EM13297659

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