Assume you can earn $5\%$ per year on your investments.

a$.$ If you invest $$$$60000$ for retirement at age$30,$ how much will you have $35$ years later for$$ retirement?

b$.$ If you wait until age $40$ to invest the $$$$60000,$ how much will you have $25$ years later for$$ retirement?

c$.$ Why is the difference so$$ large?

Question content area bottom

Part $1$

a$.$ If you invest $$$$60000$ for retirement at age$30,$ how much will you have $35$ years later for$$ retirement?

The amount of money you will have $35$ years later for retirement is $$$

$$

enter your response here. $($ound to the nearest$$ cent.$)$