Payments into your retirement account

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Reference no: EM131958956

You are graduating from college at the end of this semester and have decided to invest $4,500 at the end of each year into a Roth IRA, which is a retirement investment account that grows tax free and is not taxed when it is liquidated, for the next 50 years. If you earn 10 percent compounded annually on your investment of $4,500 at the end of each year, how much will you have when you retire in 50 years. How much will you have if you wait 10 years before beginning to save and only make 40 payments into your retirement account?

When you retire in 50 years, you will have $__________ ?(Round to the nearest dollar.)

Reference no: EM131958956

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