Asked by shunda

2. At the end of each year a self-employed person deposits $1,500 in a retirement account that earns 10 percent annually.
a) How much will be in the accountant when the individual retires at the age of 65 if the contributions start when the person is 45 years old?
b) How much additional money will be in the account if the individual stops making the contribution at age 65 but defers retirement until age 70?
c) How much additional money will be in the account if the individual continues making the contribution but defers retirement until age 70?
d) Compare the answers to (b) and (c). What is the effect of continuing the contributions? How much is the difference between the two answers?
Answered by PsyDAG
Indicate your <I>specific</I> subject in the "School Subject" box, so those with expertise in the area will respond to the question.
Answered by Anonymous
He will earn 147521
There are no AI answers yet. The ability to request AI answers is coming soon!