Solve the problem.To save for retirement, you decide to deposit $1250 into an IRA at the end of each year for the next 40 years. If the interest rate is 10% per year compounded annually, find the value of the IRA after 40 years. Round to the nearest dollar.

A. $553,241
B. $30,092,655
C. $55,324
D. $501,810

Answer: A

Mathematics

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