Larry wants to start an IRA that will have $810,000 in it when he retires in 19 years. How much should he invest semiannually in his IRA to do this if the interest is 8% compounded semiannually?

A) $9408.85

B) $29,272.28

C) $9421.85

D) 7176.10

Question

Trevin Jimenez

5 September, 00:50

+3

Answers (1)

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Luciano Horn · Answer 1

The way I calculated it shows the answe would be a

Larry wants to start an IRA that will have $810,000 in it when he retires in 19 years. How much should he invest semiannually in his IRA to do this if the interest is 8% compounded semiannually?A) $9408.85B) $29,272.28C) $9421.85D) 7176.10