Question

John makes annual deposits of $2000 to an an IRA earning 4% compounded annually for 14...

John makes annual deposits of $2000 to an an IRA earning 4% compounded annually for 14 years.
a) What was the value of his IRA at the end of 14 years?
Answer = $  
b) How much can John withdraw each year for the next 19 years at 4 % compounded annually?

(Hint: Consider John wants his money back from IRA, in other words, IRA now owes him money. Which formula do you need to use?)
Answer = $

Math   Statistics-And-Probability   
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