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(Related to The Business of 1 ife: Saving for Retimement) (Future valuo of an ordinary annuity) You are graduating troen colege at the end of

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(Related to The Business of 1 ife: Saving for Retimement) (Future valuo of an ordinary annuity) You are graduating troen colege at the end of this searester and afler reading the The Business of Ufe box in this chapter, you have docided to invest $6,300 af the end of each year into a Roth IRA for the next 40 years. If you eam 9 percent compoundod annualy on your imvestment, how much will you have ahen you refice in 40 years? How nuch will you havo if you wait 10 years before beginning to save and only inske 30 payments into your retirement sccount? How much will you have when you retire in 40 years? (Round to the nearest cent) How nuch eail you have di you wait 10 years before beginning to saye and only make 30 payments into your teerement acceunt? (Raund to the nearest cent)

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