Janine is $48$ and has a good job at a biotechnology company. Janine estimates that she will need $$943,000$ in her total retirement

nest egg by the time she is $65$ in order to have retirement income of $$22,000$ a year. $($She expects that Social Security will pay her

an additional $$19,500$ a year.$)$ She currently has $$6,000$ in an IRA, an important part of her retirement nest egg. She believes her

IRA will grow at an annual rate of $8$ percent, and she plans to leave it untouched until she retires at age $65.$ How much will Janine's

IRA be worth when she needs to start withdrawing money from it when she retires? Use $($Exhibit $1-$A$,$ Exhibit $1-$B$,$ Exhibit $1-$C$,$ Exhibit

$1-$D$).$

Note: Use appropriate factor$($s$)$ from the tables provided. Round time value factor to $3$ decimal places and answer to $2$ decimal

places.

Future value of IRA