​(Related to The Business of​ Life: Saving for​ Retirement) ​(Future value of an ordinary​ annuity) 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
​$4,900
at the end of each year into a Roth IRA for the next
44
years. If you earn
6
percent compounded annually on your​ investment, how much will you have when you retire in
44
​years? How much will you have if you wait 10 years before beginning to save and only make
34
payments into your retirement​ account?
Question content area bottom
Part 1
How much will you have when you retire in
44
​years?
​$enter your response here ​(Round to the nearest​ cent.)
Part 2
How much will you have if you wait 10 years before beginning to save and only make
34
payments into your retirement​ account?
​$enter your response here ​(Round to the nearest​ cent.)