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You deposit $4.1 thousand at the end of every six months for the next 4 years...

You deposit $4.1 thousand at the end of every six months for the next 4 years into an IRA account that earns 4.3% annually (compounded semiannually). How much will you have on the account after making the last deposit?

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Expert Solution

How much will you have on the account after making the last deposit

=(4.1*1000)*(((1+(4.3%/2))^(4*2)-1)/(4.3%/2))

=35377.23

jeff jeffy answered 2 years ago
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