At the age of 24, to save for retirement, you decide to deposit $20 at the end of each month in an IRA that pays 6.5% compounded monthly. a. You will have approximately $ in the IRA when you retire....

Extracted text: At the age of 24, to save for retirement, you decide to deposit $20 at the end of each month in an IRA that pays 6.5% compounded monthly. a. You will have approximately $ in the IRA when you retire. (Do not round until the final answer. Then round to the nearest dollar as needed.) Use the following formula to determine how much you will have in the IRA when you retire at age 65. а. P[(1 +n* - 1] A = or nt Pl 1+ A = b. Find the interest.