Matt is 25 and wants to save $2,000 per year in an IRA until he retires at age 65. If Matt's investment earns 9%, how much will his IRA be worth when he retires?
A) $64,030
B) $579,471
C) $272,620
D) $675,780
Answer: D
Explanation: D) FVIFA, 9%, 40 years: 337.890 × $2,000 = $675,780
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