Solve the problem. Round to the nearest cent.Larry wants to start an IRA that will have $980,000 in it when he retires in 23 years. How much should he invest semiannually in his IRA to do this if the interest is 5% compounded semiannually?

A. $11,590.22
B. $11,577.22
C. $7460.72
D. $32,042.45


Answer: A

Mathematics

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