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Question 54

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Solve the problem. Solve the problem. -A 49-year-old man deposits a total of $2000 per year in an IRA until age 65. How much money will be in the account if the interest rate is 8% compounded semiannually with payments of $1000 made at the end of each semiannual period? A) $62,701.47 B) $118,656.67 C) $125,402.94 D) $59,328.34
-A 49-year-old man deposits a total of $2000 per year in an IRA until age 65. How much money will be in the account if the interest rate is 8% compounded semiannually with payments of $1000 made at the end of each semiannual period?


A) $62,701.47
B) $118,656.67
C) $125,402.94
D) $59,328.34

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