Question : 00 is deposited into an IRA at a fixed interest of 6% a year. This deposit is made on Dec 31 each year for?
20 years. using the interest formula A=Pe^rt to develop a sequence related to this situation.
a) this is a geometric sequence. Determine a function of the form a(n)=a1r^n-1 that generates this sequence.
b) Determine how much money is in the account at the end of 20 years. Give an exact expression for this sum and use a calculator to give an approx. to two decimal places
ira calculator

Best answer:

Answer by Agent Smith
I think the answer is “13561″ for all of that, but I could be wrong.