Problem

Investment Plans. Use the savings plan formula to answer the following questions.A friend...

Investment Plans. Use the savings plan formula to answer the following questions.

A friend has an IRA with an APR of 6.25%. She started the IRA at age 25 and deposits $50 per month. How much will her IRA contain when she retires at age 65? Compare that amount to the total deposits made over the time period.

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