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How much will have if wait ten years before beginning

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You are graduating from college at the end of this semester and after reading the The Business of Life box in this chapter, you have decided to invest $4,400 at the end of each year into a Roth IRA for the next 47 years.

Problem 1: If you earn 10 percent compounded annually on your investment, how much will you have when you retire in 47 years?

Problem 2: How much will you have if you wait 10 years before beginning to save and only make 37 payments into your retirement account?

Problem 3: How much will you have when you retire in 47 years?

Reference no: EM132793248

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