Now it$$s time for you to practice what you$$ve learned.

Suppose that Rosa is $35$ years old and has no retirement savings. She wants to begin saving for retirement, with the first payment coming one year from now. She can save $$8,000$ per year and will invest that amount in the stock market, where it is expected to yield an average annual return of $15\mathrm{.}00\%$ return. Assume that this rate will be constant for the rest of her$$s life.

Rosa would like to calculate how much money she will have at age $65.$

Using a financial calculator yields a future value of this ordinary annuity to be approximately at age $65.$

Rosa would now like to calculate how much money she will have at age $70.$

Using a financial calculator yields a future value of this ordinary annuity to be approximately at age $70.$

Rosa expects to live for another $25$ years if she retires at age $65,$ with the same expected percent return on investments in the stock market.

Using a financial calculator, you can calculate that Rosa can withdraw at the end of each year after retirement $($assuming retirement at age $65),$ assuming a fixed withdrawal each year and $$0$ remaining at the end of her life.

Rosa expects to live for another $20$ years if she retires at age $70,$ with the same expected percent return on investments in the stock market.

Using a financial calculator, you can calculate that Rosa can withdraw at the end of each year after retirement at age $70,$ assuming a fixed withdrawal each year and $$0$ remaining at the end of her life.