Ira Roth opens up a Roth IRA and places $5,000 in his retirement account at the beginning of each year for 25 years. He believes the account will earn 9 percent interest per year, compounded monthly. How much will he have in his retirement account in 25 years?
A) $355,900.96
B) $490,000.58
C) $390,000.58
D) $490,165.32
Correct Answer:
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