Debra, age 51, is self-employed and has never made a lot of money. but, she has consistently saved $4632 per year into a traditional ira. over the years, she has taken full advantage of the tax law and deducted each year’s contribution from her tax return. if debra started saving at age 26 and has earned an average annual return of 5%, how much is the account worth today?

a. $619398.

b. $48556.

c. $23677.

d. $221072.

D. $221072.

Explanation:

In this question, we use the future value formula which is shown in the spreadsheet.  

The NPER represents the time period.

Given that,  

Present value = $0

Rate of interest = 5%

NPER = 25 years

PMT = 4,632

The formula is shown below:

= -FV(Rate;NPER;PMT;PV;type)

So, after solving this, the answer would be $221,071.92  

being born in poverty would limit the people's chances, opportunities and benefits.

this happen because of several things, such as:

- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

- poor people tend to socialize with other poor people while the rich tend to socialize with other rich people. this means that simply throguh their social circle, rich people would have more business opportunities compared to the poor people.

- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.

answerjointly by the fed and by the behavior of individuals who hold money and of banks in which money is held;