Seth starts an IRA (Individual Retirement Account) at the age of 32
 to save for retirement. He deposits $450
 each month. Upon retirement at the age of 65
, his retirement savings is $488,809.01
. Determine the amount of money Seth deposited over the length of the investment and how much he made in interest upon retirement.

To determine how much Seth deposited over the length of his investment and how much he earned in interest upon retirement, we need to calculate two things:

1. **The total amount Seth deposited**: This is simply the monthly deposit multiplied by the number of months he contributed.
2. **The interest earned**: This is the difference between the final value of the investment and the total deposits.

### Step 1: Calculate the total amount deposited
Seth deposits $450 every month from age 32 to age 65.

- Time span = $65 - 32 = 33$ years.
- Number of months = $33 \times 12 = 396$ months.

Total amount deposited:
\[
\text{Total deposits} = 450 \times 396 = 178,200
\]

### Step 2: Calculate the interest earned
The final value of Seth's IRA is $488,809.01, and his total deposits amount to $178,200.

Interest earned:
\[
\text{Interest earned} = 488,809.01 - 178,200 = 310,609.01
\]

### Summary:
- **Total amount deposited**: $178,200
- **Interest earned**: $310,609.01

Would you like further details on how these types of interest calculations are made, or any specific questions?

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Here are 5 questions related to this:

1. How does compound interest affect long-term investments like IRAs?
2. What type of interest rate is assumed in this IRA calculation?
3. How can Seth optimize his IRA with tax benefits?
4. What is the difference between a Roth IRA and a Traditional IRA in terms of growth?
5. How do market conditions influence the growth of a retirement account?

**Tip**: When planning for retirement, consider how both interest rates and the length of the investment period impact the final savings.

Seth starts an IRA (Individual Retirement Account) at the age of 32 to save for retirement. He deposits $450 each month. Upon retirement at the age of 65, his retirement savings is $488,809.01. Determine the amount of money Seth deposited over the length of the investment and how much he made in interest upon retirement.

Learn how to calculate the total amount Seth deposited in his IRA and how much interest he earned. He contributed $450 per month from age 32 to 65, with a final savings amount of $488,809.01. This problem covers arithmetic concepts and interest calculations. Suitable for students in Grades 9-12.

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