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Robert wants to start an IRA that will have $550,000 in it when he retires in 25 years. How much should he invest quarterly in his IRA to do this if the interest is 6% compounde…

Robert wants to start an IRA that will have $550,000 in it when he retires in 25 years. How much should he invest quarterly in his IRA to do this if the interest is 6% compounde…
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15 votes
Robert wants to start an IRA that will have $550,000 in it when he retires in 25 years. How much should he invest quarterly in his IRA to do this if the interest is 6% compounded quarterly? Assume an Annuity Due. Round to the nearest cent.

User Ales Potocnik
by
7.7k points

1 Answer

8 votes

Answer:

A-$2,368.29

Explanation:

User Erkin
by
8.3k points
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