1. William and James are twin brothers aged 65. Thirty-five years ago (at the end of the year when he reached age 30), William started an IRA (individual retirement account), putting $2,000 per year in the account at the end of each year. After 10 years of contributions, William stopped making new deposits but left the accumulated contributions in the IRA fund. The fund produced returns of 10 percent per year. No taxes are paid. James started his own IRA at the end of the year when he reached age 40 (25 years ago) and contributed $2,000 per year, making his last contribution today. Thus James invested 2½ times as much as William. James also earned 10 percent on his investments (tax free).
a) What are the values of William’s and James’ IRA funds today?
Essay Writing Service Features
Our Experience
No matter how complex your assignment is, we can find the right professional for your specific task. Teacheronhelp is an essay writing company that hires only the smartest minds to help you with your projects. Our expertise allows us to provide students with high-quality academic writing, editing & proofreading services.Free Features
Free revision policy
$10Free bibliography & reference
$8Free title page
$8Free formatting
$8How Our Essay Writing Service Works
First, you will need to complete an order form. It's not difficult but, in case there is anything you find not to be clear, you may always call us so that we can guide you through it. On the order form, you will need to include some basic information concerning your order: subject, topic, number of pages, etc. We also encourage our clients to upload any relevant information or sources that will help.
Complete the order formOnce we have all the information and instructions that we need, we select the most suitable writer for your assignment. While everything seems to be clear, the writer, who has complete knowledge of the subject, may need clarification from you. It is at that point that you would receive a call or email from us.
Writer’s assignmentAs soon as the writer has finished, it will be delivered both to the website and to your email address so that you will not miss it. If your deadline is close at hand, we will place a call to you to make sure that you receive the paper on time.
Completing the order and download