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
​$5,200 at the end of each year into a Roth IRA for the next 47 years. If you earn 8 percent compounded annually on your​ investment, how much will you have when you retire in
47 ​years? How much will you have if you wait 10 years before beginning to save and only make 37 payments into your retirement​ account?