tleewht2 tleewht2

20-09-2022
Mathematics

contestada

Kayla starts an IRA (Individual Retirement Account) at the age of 24
24
to save for retirement. She deposits $300
$
⁢
300
each month. The IRA has an average annual interest rate of 5%
5
%
compounded monthly. How much money will she have saved when she retires at the age of 65
65
? Round your answer to the nearest cent, if necessary.

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