Retirement planning Hal Thomas, a $25-$year$-$old college graduate, wishes to retire at age $65.$ To supplement other sources of retirement income, he can deposit $$2,000$ each year into a tax$-$deferred individual retirement arrangement $($IRA$).$ The IRA will earn a $10\%$ return over the next $40$ years.

a$.$ If Hal makes end$-$of$-$year $$2,000$ deposits into the IRA, how much will he have accumulated in $40$ years when he turns $65?$

b$.$ If Hal decides to wait until age $35$ to begin making end$-$of$-$year $$2,000$ deposits into the IRA, how much will he have accumulated when he retires $30$ years later?Retirement planning Hal Thomas, a $25-$year$-$old college graduate, wishes to retire at

age $65.$ To supplement other sources of retirement income, he can deposit $$2,000$

each year into a tax$-$deferred individual retirement arrangement $($IRA$).$ The IRA will

earn a $10\%$ return over the next $40$ years.

a$.$ If Hal makes end$-$of$-$year $$2,000$ deposits into the IRA, how much will he have

accumulated in $40$ years when he turns $65?$

b$.$ If Hal decides to wait until age $35$ to begin making end$-$of$-$year $$2,000$ deposits into

the IRA, how much will he have accumulated when he retires $30$ years later?