Homework Help: business math

Posted by lauren on Wednesday, February 9, 2011 at 8:08pm.

Bob makes his first deposit into an IRA earning % compounded annually on the day he turns 27 and his last deposit on the day he turns 35. (9 equal deposits in all.) With no additional deposits, the money in the IRA continues to earn % interest compounded annually until Bob retires on his 65th birthday. How much is the IRA worth when Bob retires?

business math - helper, Wednesday, February 9, 2011 at 8:11pm
You are missing the % for interest and the amount for the annual deposit into the IRA.
business math - Sabrina, Wednesday, September 12, 2012 at 9:24pm
plug in 6.4 as the % and $1,000 as the deposit

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