12. Bill plans to fund his individual retirement account (IRA) with a contribution of $2,000 at the end of each of the next 15 years. If he can earn 12% on his contributions, how much will he have at the end of the twentieth year? Hint: yes, I said how much at the end of the twentieth year - that's not a typo (BTW, "twentieth" does not 12!. Yes, we've seen that.). Draw this out in a time line. What you will find is that this is really two problems in one - you will need two formulas to solve it.