$($Related to The Business of Life: Saving for Retirement$)($Future value of an ordinary annuity$)$ You are graduating from college at the end of this semester and after reading the The Business of Life box in this chapter, you have decided to invest $$4,000$ at the end of each year into a Roth IRA for the next $42$ years. If you earn $7$ percent compounded annually on your investment, how much will you have when you retire in $42$ years? How much will you have if you wait $10$ years before beginning to save and only make $32$ payments into your retirement account?

How much will you have when you retire in $42$ years?

$ $($Round to the nearest cent.$)$