Sara invests $1,200 each year in an ira ( 12 years in an account that earned 5%
compounded an...
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Mathematics, 01.02.2020 01:01 achy1905
Sara invests $1,200 each year in an ira ( 12 years in an account that earned 5%
compounded annually.) at the end of 12 years, she stopped making payments to the account, but continued to invest her accumulated amount at 5% compounded annually for the next 11 years.
a. what was
the value of the ira at the end of 12 years?
b. what was the value of the investment at the end of the next 11 years?
c. how much interest did she earn?
show work for how this is done.
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