Solve the problem.To save for retirement, you decide to deposit $1500 into an IRA at the end of each year for the next 40 years. If the interest rate is 5% per year compounded annually, find the value of the IRA after 40 years. (Round to the nearest dollar.)

A. $9060
B. $1,186,123
C. $181,200
D. $171,143


Answer: C

Mathematics

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