I have just opened up a new Roth IRA account. I plant to invest $4,800 this year and to increase that deposit every year to keep up with inflation. I expect my account to earn 9% and the inflation rate to be 3%. How much, in today's dollars, will my account be worth in thirty-five years under these assumptions?

State the answer you find in the answer space provided. Show your work. If your work uses a spreadsheet, attach the spreadsheet you used to get it.

NOTE: We have discussed two different approaches to this sort of problem in this class. You can use either of those two approaches (your choice.)