Jeff is trying to get serious about his long-term savings for retirement and has started an individual retirement account (IRA) with a principal lump...

Jeff is trying to get serious about his long-term savings for retirement and has started an individual retirement account (IRA) with a principal lump sum of $1,240. He is planning on consistently depositing $340 into his IRA every three months and hopes to earn an average APR of 3.5% compounded quarterly. If Jeff's IRA performs as he is predicting,