In this part, calculate the future values. Use the Excel FV function to compute the future values.

A) You have just made a $4,000 contribution to your individual retirement account. Assuming you earn an annual rate of return of 5 percent and make no additional contributions, what will your account be worth when you retire in 30 years?

B) Calculate the future values in the table below using the FV Excel function. Present value Years Interest rate Future value $3,950 8 15% ? $8,500 15 6% ? $85,300 20 8% ? $221,600 25 4% ?