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At age 25, you set up an IRA with an APR of 5%. you deposit $75 each month. How much would there be where you retire at 65? Please tell me how to enter this problem

 
 
 Mar 2, 2015

Best Answer 

 #1
avatar+118723 
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This is the future value of an ordinary annuity problem.

At age 25, you set up an IRA with an APR of 5%pa.    i=0.05

you deposit $75 each month.                                    C=75

How much would there be where you retire at 65?      n=65-25=40

Please tell me how to enter this problem

 

Can you take it from there?

 Mar 2, 2015
 #1
avatar+118723 
+5
Best Answer

This is the future value of an ordinary annuity problem.

At age 25, you set up an IRA with an APR of 5%pa.    i=0.05

you deposit $75 each month.                                    C=75

How much would there be where you retire at 65?      n=65-25=40

Please tell me how to enter this problem

 

Can you take it from there?

Melody Mar 2, 2015

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