SOLUTION: Emily Fields makes annual deposits of $1100 to an an IRA earning 15% compounded annually for 14 years. The value of her IRA at the end of 14 years is 7783.27. How much can Emily wi

Algebra ->  Finance -> SOLUTION: Emily Fields makes annual deposits of $1100 to an an IRA earning 15% compounded annually for 14 years. The value of her IRA at the end of 14 years is 7783.27. How much can Emily wi      Log On


   

Question 1188457: Emily Fields makes annual deposits of $1100 to an an IRA earning 15% compounded annually for 14 years. The value of her IRA at the end of 14 years is 7783.27. How much can Emily withdraw each year for the next 21 years at 15% compounded annually?
Answer by ikleyn(52834) About Me  (Show Source):
You can put this solution on YOUR website!
.

Something is heavily wrong with this  " problem ".

If Emily deposits  $1100  annually to her  IRA during  14  years,  the value of her  IRA  can not be  7783.27 dollars.

It contradicts to a simple human logic.


Double check and revise your post  (or throw it to the closest garbage bin).


In the given form,  it is totally  DEFECTIVE.


Do not forget to post your  " THANKS "  to me for pointing an error in your post.