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

1 answer:

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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