Suppose that Tim is $35$ years old and has no retirement savings. He wants to begin saving for retirement, with the first payment coming one year

from now. He can save $$30,000$ per year and will invest that amount in the stock market, where it is expected to yield an average annual return

of $10\mathrm{.}00\%$ return. Assume that this rate will be constant for the rest of his's life. In short, this scenario fits all the criteria of an ordinary annuity.

Tim would like to calculate how much money he will have at age $60.$

Use the following table to indicate which values you should enter on your financial calculator. For example, if you are using the value of $1$ for $N,$

use the selection list above $N$ in the table to select that value.

Using a financial calculator yields a future value of this ordinary annuity to be approximately $$3,835,535,31$ at age $60.$

Tim would now like to calculate how much money he will have at age $65.$