<PRE><B>Question 628323</B>
Starting at age 25, Tracy invests $1500 at the end of each year in an IRA with an APR of 6.5% compounded annually. How much is in Tracy’s retirement account when she retires at the age of 65? (Assume the 40th and last deposit generates no interest).
-----
A(t)=P(1+(r/n))^(nt)
---
A(40) = 1500(1+(0.065/1))^(1*40)
A(40) = 1500(1.065)^40
A(40) = $18624.11
=========================
Cheers,
Stan H.
=========================</PRE>