(Future value of an ordinary? annuity)??You are graduating fromcollege at the end of this semester and after reading the TheBusiness of Life box in this? chapter, you have decided to invest?$4 comma 200 at the end of each year into a Roth IRA for the next40 years. If you earn 7 percent compounded annually on your?investment, how much will you have when you retire in 40 ?years?How much will you have if you wait 10 years before beginning tosave and only make 30 payments into your retirement? account? Howmuch will you have when you retire in 40 ?years?
