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Alika [10]
3 years ago
12

Melanie made contributions to a ROTH IRA over the course of working 34 years. Her contributions averaged $3,750 annually.

Mathematics
1 answer:
aleksklad [387]3 years ago
8 0
We assume that we are asked of the monthly contribution made by Melanie to a ROTH IRA. The give data are below:
Period = 34 years * 12 months = 408 months
Total contributions  = $3,750
Solving for the monthly contribution, we have the solution below:
Monthly Contribution = Total contribution / period
Monthly contribution = $3750 / 408
Monthly contribution = $9.2

The answer is $9.2 monthly contribution.
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