Ruben invested $1200 per year in an IRA each year for 8 years earning 13% compounded annually.
At the end of 8 years he ceased the IRA payments, but continued to invest his accumulated amount at 13% compounded annually for the next 4 years.
a) What was the value of his IRA at the end of 8 years?
Answer = $
b) What was the value of the investment at the end of the next 4 years?
Answer = $