Question 2 (4 points) Lonny is 42 years old and starting an IRA (individual retirement account). He is going to invest $350 at the beginning of each month. The account is expected to earn 1.5% interest,

Question 2 (4 points)

Lonny is 42 years old and starting an IRA (individual retirement account). He is going to invest $350 at the beginning of each month. The account is expected to earn 1.5% interest, compounded monthly. How much money, rounded to the nearest dollar, will Lonny have in his IRA if he wants to retire at age 62? (4 points)

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Question 2 (4 points) Lonny is 42 years old and starting an IRA (individual retirement account). He is going to invest $350 at the beginning of each month. The account is expect…

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