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8. value: 10.00 points You have just made your first $3,500 contribution to your retirement account. Assuming you earn an 8 percent rate of return

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8. value: 10.00 points You have just made your first $3,500 contribution to your retirement account. Assuming you earn an 8 percent rate of return and make no additional contributions. Required: (a) What will your account be worth when you retire in 35 years? 54,336.14 (b) What will your account be worth if you wait 7 years before contributing? 28,685.13

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