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    rosa322's Avatar
    rosa322 Posts: 1, Reputation: 1
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    #1

    Oct 9, 2011, 01:03 PM
    Deposit $2,000 annually for 30 years how much will I have at end of period
    Hal Thomas, a 25 -year-old college graduate, wishes to retire at age 65.
    To supplement other sources of retiremetn income, he can deposit $2,000
    Each year into a tax-deferred individual retiremetn arrangement (IRA). The IRA will
    Earn a 10% return over the next 40 years.

    If Hal makes annual end-of-year $2,000 deposits into the IRA, how much will he
    Have accumulated by the end of his sixty-fifth year?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #2

    Oct 9, 2011, 02:02 PM
    Thank you for asking our help with your homework assignment. However, there are some rules we have for doing so.
    Do not simply retype or paste a question from your book or study material

    We won't do your homework questions for you. You were given the assignment for you to learn.

    If you come up with your own answer or process and post it for us to critique that is acceptable. If you have some SPECIFIC questions that you couldn't find or didn't understand, we may help with that.
    But this is your assignment, so show us you have at least attempted to complete it on your own.

    Thank you.

    This is a simple FV formula
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