If you saved your tax refund $12,900.87, quit buying vendor coffee for one year $4,483.97 and decided to contribute $2,400 (you saved $200 per month) in your Roth IRA, how much would you have for retirement if you could invest these savings at 5% compounded annually for 30 years for this one year of savings? (Use the Table 12.1 provided.) (Round your answer to two decimal places.) Amount saved for Retirement TABLE 12.1 Future value of $1 at compound interest Period 2% 4% 5% 6% 7% 9% 10% 1 1% 1.0100 1.0201 1.0400 3% 1.0300 1.0609 1.1000 1% 1.0150 1.0302 1.0457 1.0614 1.0200 1.0404 2 1.0816 1.2100 1.0500 1.1025 1.1576 12155 1.0600 1.1236 1.1910 1.2625 3 1.0900 1.1881 1.2950 1.4116 1.0303 1.0612 1.0927 1.1249 8% 1.0800 1.1664 1.2597 1.3605 1.4693 1.5869 1.3310 1.4641 4 4 1.0406 1.0700 1.1449 1.2250 1.3108 1.4026 1.5007 1.6058 1.0824 1.1255 1.1699 5 1.0510 1.1041 1.1593 1.2167 1.2763 1.3382 1.5386 1.6105 1.0773 1.0934 6 1.0615 1.1262 1.1941 1.3401 1.6771 1.7716 1.2653 1.3159 1.4185 1.5036 7 1.0721 1.1098 1.4071 1.7138 1.8280 1.9487 1.1487 1.1717 1.2299 1.2668 00 1.0829 1.1265 1.3686 1.4775 1.5938 1.7182 1.8509 1.9926 2.1436 2.3579 9 1.0937 1.1434 1.1951 1.3048 1.4233 1.5513 1.6895 2.17 19 10 1.1046 1.1605 1.2190 1.3439 1.4802 1.6289 1.7908 1.8385 1.9672 2.1049 2.3674 2.5937 11 1.1157 1.2434 1.3842 1.5395 1.7103 1.8983 1.9990 2.1589 2.3316 2.5182 2.7196 2.5804 1.1780 1.1960 2.8531 12 1.1268 1.2682 1.4258 1.6010 1.7959 2.0122 2.2522 2.8127 3.1384 13 1.1381 1.2135 1.2936 1.4685 1.6651 1.8856 2.1329 2.4098 3.0658 3.4523 14 1.1495 1.2318 1.3195 1.5126 1.7317 1.9799 2.2609 2.57 85 2.9372 3.34 17 3.7975 15 1.1610 1.5580 2.0789 2.3966 2.7590 3.1722 3.6425 4.1772 1.2502 1.2690 1.3459 1.3728 1.8009 1.8730 16 1.6047 2.5404 2.9522 3.4259 3.9703 4.5950 1.1726 1.1843 2.1829 2.2920 17 1.2880 1.4002 1.6528 1.9479 2.6928 3.1588 3.7000 4.3276 5.0545 18 1.1961 1.3073 1.4282 1.7024 2.0258 2.4066 2.8543 3.3799 4.7171 5.5599 19 1.2081 1.3270 1.4568 1.7535 2.1068 2.5270 3.0256 3.6165 5.1417 6.1159 20 1.2202 1.3469 1.4859 1.8061 2.1911 2.6533 5.6044 6.7275 3.2071 3.3996 3.8697 4.1406 21 1.2324 1.3671 1.5157 1.8603 2.2788 2.7860 3.9960 4.3157 4.6610 5.0338 5.4365 5.8715 6.3412 6.1088 7.4002 22 1.2447 1.3876 1.9161 2.3699 3.6035 4.4304 8.1403 1.5460 1.5769 2.9253 3.0715 6.6586 7.2579 23 1.2572 1.4084 2.4647 4.7405 8.9543 1.9736 2.0328 3.8197 4.0489 24 1.2697 1.4295 1.6084 2.5633 3.2251 5.0724 7.9111 9.8497 25 1.4510 1.6406 2.0938 2.6658 3.3864 4.2919 5.4274 6.8485 8.6231 10.8347 1.2824 1.2953 26 1.4727 1.6734 2.1566 2.7725 3.5557 4.5494 5.8074 7.3964 9.3992 11.9182 27 1.3082 1.4948 1.7069 2.2213 2.8834 3.7335 4.8223 6.2139 7.9881 10.2451 13.1100 28 1.3213 1.7410 2.2879 2.9987 3.9201 5.1117 6.6488 8.6271 11.1672 14.4210 1.5172 1.5400 29 1.3345 1.7758 2.3566 3.1187 4.1161 5.4184 7.1143 9.3173 12.1722 15.8631 30 1.3478 1.5631 1.8114 2.4273 3.2434 4.3219 5.7435 7.6123 10.0627 13.2677 17.4494 Note: For more detailed tables, see your reference booklet the Business Math Handbook
