How much money will be in the account upon retirement
Question: If someone is 21 years old, deposits $5000 each year into a traditional Individual Retirement Account (IRA) for 49 years at 6% interest compounded annually, and retires at age 70, how much money will be in the account upon retirement?
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(IRA) for 49 years at 6% interest compounded annually, and retires at age 70, how much money will be in the account upon retirement?
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