12) Sally Winston is contributing $2800 each year to a Roth IRA. The IRA earns 3.7% per year. How much will she have at the end of 20 years?

A) $83,821.21

B) $83,905.21

C) $83,541.21

D) $83,765.21

A) 83,821.21

This can be calculated by finding the return on each year separately; the 1st year is 2800x(1.037)^20, the second is 2800x(1.037)^19, etc.

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