View the step-by-step solution to:


 ​Shaylea, age​ 22, just started working​ full-time and plans to deposit ​$ 4,800 annually into an IRA

earning 9 percent interest compounded annually. Deposits will be made at the end of each year. How much would she in 20 ​years, 30 ​years, and 40 ​years? If she changed her investment period and instead invested ​$400.00 monthly and the investment also changed to monthly​ compounding, how much would she have after the same three time​ periods? With annual investments and​ compounding, after 20 ​years, Shaylea would have ​$

Top Answer

Annual Investments and Compounding After 20 years, Shaylea would have $245,568.57. After 30 years,... View the full answer

Sign up to view the full answer

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question