The Roth IRA has contribution limits, which are $6,500 for 2023 and $7,000 in 2024. If you’re age 50 or older, you can contribute an additional $1,000 as acatch-up contribution.64Contributions, not earnings, can be withdrawn tax-free at any time.7 ...
Interest owed: 0.05×5000=250 Total owed: 416.67+250=666.67 Month 2: Principal amount: Previous month owed minus principal paid 5000−416.67=4583.33 Interest owed: 0.05×4583.33=229.17 Total owed: 416.67+229.17=645.84 Continue calculations for each of the months to find amount owed each mon...