SOLUTION: She is 25 years old and plans to invest $4,600 every year in an IRA account, beginning at the end of this year until she turns 65 years old. If the IRA investment will earn 10.10 p

Question 1091744: She is 25 years old and plans to invest $4,600 every year in an IRA account, beginning at the end of this year until she turns 65 years old. If the IRA investment will earn 10.10 percent annually, how much will she have in 40 years, when she turns 65?
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
This is
Final=annual amount ((1+(r/n)^N)-1)/(r/n); r/n is just r, because one compounding per year.
=4600(1+.1010)^40-1/(0.1010)
round at end
$2092069.11
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