Ryan starts an IRA (Individual Retirement Account) at the age of 28 to save for retirement. He deposits $350 each month. Upon retirement at the age of 65, his retirement savings is $449,103.20. Determine the amount of money Ryan deposited over the length of the investment and how much he made in interest upon retirement.

To determine how much Ryan deposited over the length of his investment and how much he earned in interest, we can follow these steps:

### 1. Determine the total amount deposited:
Ryan deposits $350 each month, and he saves from age 28 to age 65. Let's calculate the number of months he made contributions:

\[
\text{Total years} = 65 - 28 = 37 \text{ years}
\]

Since he deposits monthly:

\[
\text{Total months} = 37 \times 12 = 444 \text{ months}
\]

Thus, the total amount Ryan deposited is:

\[
\text{Total deposited} = 350 \times 444 = 155,400
\]

### 2. Determine the interest earned:
The total savings at retirement is $449,103.20. The interest earned is the difference between the total savings and the amount he deposited.

\[
\text{Interest earned} = 449,103.20 - 155,400 = 293,703.20
\]

### Final Answer:
- **Amount deposited**: $155,400
- **Interest earned**: $293,703.20

Would you like more details or further questions? Here are some relative questions for deeper insight:

1. How does compound interest affect long-term investments?
2. What would happen if Ryan started saving earlier or later than 28?
3. How does increasing or decreasing the monthly deposit impact the final amount?
4. How could changes in the interest rate alter the outcome of Ryan's savings?
5. What happens to retirement savings when inflation is considered?

**Tip:** Starting investments earlier allows compound interest to work longer in your favor, significantly increasing total savings over time.

Ryan starts an IRA (Individual Retirement Account) at the age of 28 to save for retirement. He deposits $350 each month. Upon retirement at the age of 65, his retirement savings is $449,103.20. Determine the amount of money Ryan deposited over the length of the investment and how much he made in interest upon retirement.

Determine how much Ryan deposited over his investment period and how much interest he earned. Ryan saved $350 monthly from age 28 to 65, ending with $449,103.20. Find the total amount deposited and the interest earned with step-by-step calculations. Ideal for Grades 9-12 students learning about savings and interest.

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