# [Solution]How much will the IRA contain when he reaches 65

1)Stephen sets up an IRA with an APR of 4% at age 26. At the end of each month, he deposits \$57 in the account.…

1)Stephen sets up an IRA with an APR of 4% at age 26. At the end of each month, he deposits \$57 in the account. How much will the IRA contain when he reaches 65? Compare that amount to thetotal amount of deposits made over the time period.A) \$46,870.08; this is \$30,460.28 more than the total amount of the deposits. B) \$47,628.04; this is \$24,828.04 more than the total amount of the deposits. C) \$64,065.01; this is \$37,389.01 more than the total amount of the deposits.D) \$1545.43; this is \$63.43 more than the total amount of the deposits.2)How does the share price for company ABC compare to the profit per share that it earned in the past year?52- week Yld Vol NetHigh Low Stock Div % P/E 100s High Low Close Chg33.16 16.74 ABC 0.63 2.5 21 4156 25.68 24.87 25.35 +0.2227.83 12.07 XYZ 0.21 1.2 14 9175 18.17 17.26 17.51 +0.09 A) price = 2.5 Ã earnings B) earnings = 21 Ã price C) price = 21 Ã earnings D) price = 25.35 Ã earnings

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