The amount contributed by Ray to a IRA is
semiannually.
Rate of interest is
compunded semiannually.
Rate of interest per payment period is
semiannually.
Find the amount after
deposit.
Amount of an Annuity after
deposits is
, where
is the deposit in dollars,
is the percent interest per payment period.

.
Value of IRA after
deposit of Ray is
.
Value of IRA after
deposit of Ray is
.