Answered>Order 5975

Question 1 Part 2

If an individual do not put the $2000 in an IRA until 35 years old. How much will he have accumulated at age 60 using 6 % How much less will he earned since he only invested 10 year later instead of when he was 25 years old. How much less because he started the investment 10 years later.

Initial investment (PV)                        _$2000.00_________________

Quoted Rate                                       _______6%____________           

Compounding frequency                 _________4___________          (choose one)*

Number of compounding (m)        ____________________                                                                                                                                                 

Quoted rate divided by m= rate  _____________________

Number of years                           __25 years____________________

NPER (Num. of Years*m)           ________________________

Ending amount (FV)                                 _________________________________