Let's say Laura just started working and wants to think about retirement and starts saving by contributing to an IRA on a monthly basis. She is 24 year old and decided to contribute $100 a month. Laura wants to retire when she is 65. Hers IRA fund manager assures that she will receive a 9% annual rate of return on the IRA, but that investments will be compounded quarterly. How much money will Laura have saved upon retirement at 65 years old?