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Question 1 Part 2 If an individual do not put the $2000 in an IRA until 35 years old.
Question 1 Part 2
If an individual do not put the $2000 in an IRA until 35 years old. How much will he have accumulated at age 60 using 6 % How much less will he earned since he only invested 10 year later instead of when he was 25 years old. How much less because he started the investment 10 years later.
Initial investment (PV) _$2000.00_________________
Quoted Rate _______6%____________
Compounding frequency _________4___________ (choose one)*
Number of compounding (m) ____________________
Quoted rate divided by m= rate _____________________
Number of years __25 years____________________
NPER (Num. of Years*m) ________________________
Ending amount (FV) _________________________________
