Meagan invests $1,200 each year in an IRA for 12 years in an account that earned 5% compounded annually. At the end of 12 years,

Question

3 years ago

10

Meagan invests $1,200 each year in an IRA for 12 years in an account that earned 5% compounded annually. At the end of 12 years,

she stopped making payments to the account, but continued to invest her accumulated amount at 5% compounded annually for the next 11 years. A. [3 pts] What was the value of the IRA at the end of 12 years? B. [2 pts] What was the value of the investment at the end of the next 11 years?

Mathematics

1 answer:

Sunny_sXe [5.5K] · Answer 1 · 2022-04-19T07:48:22+03:00

Sunny_sXe [5.5K]3 years ago

5 0

Answer:

12000

Step-by-step explanation:

12000