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At age 21someone sets up an IRA​ (individual retirement​ account) with an APR of 66​%. At the end of each month he deposits ​$3535 in the account. How much

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At age 21someone sets up an IRA​ (individual retirement​ account) with an APR of 66​%. At the end of each month he deposits ​$3535 in the account. How much will the IRA contain when he retires at age​ 65? Compare that amount to the total deposits made over the time period.

 Jul 15, 2016

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 #1
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66% APR is a lot! Are you sure that's what you need to compute?

 Jul 15, 2016
edited by LambLamb  Jul 15, 2016
 #2
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66% APR? And $3,535 per month? At 65 you will have 1,600 times more money than the TOTAL wealth of the ENTIRE WORLD!!!!.

 Jul 16, 2016

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