AQ4

A friend of yours has waited until their 40th birthday to decide to save for retirement. You tell them that it is a good idea to save now even if it would be better to start earlier. The friend plans to contribute $2,359 per year and earn 8% until they are 65. How much money will your friend have in their account at age 65? (If possible, please explain how you would put this in excel to get the result)