Question

WILL MARK THE BRAINILEST!!!!!

Richard is 25 years old and starting an IRA (individual retirement account). He is going to invest $200 at the beginning of each month. The account is expected to earn 2.85% interest, compounded monthly. How much money will Ricky have in his IRA when he retires, at age 65?

$87,564.17

$452,588.21

$14,993.11

$179,165.14

Answer 1

$179,165.14 because the total deposits would be $96,000 by the time he is 40 years old and the interest would be $83,165.14 so if you add them together you would get $179,165.14