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2. IRA: Caroline is planning to contribute $2,000 on January 31 of each year into a traditional IRA earning interest at the rate of 5% per year. a.
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2. IRA: Caroline is planning to contribute $2,000 on January 31 of each year into a
traditional IRA earning interest at the rate of 5% per year.
a. After she makes her 25" payment on January 31 of the year following her
retirement at age 65, how much will she have in her IRA?
b. Suppose the Caroline want to make yearly withdrawals from her IRA for the next
15 years. How much will she receive each year?

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