TB EX Qu$.$ C$-86($Algo$)$ You want to save for...

You want to save for retirement. Assuming you are now $20$ years old and you want to retire at age $60,$ you have $40$ years to watch

your investment grow. You decide to invest in the stock market, which has earned about $10\%$ per year over the past $80$ years and is

expected to continue at this rate. You decide to invest $$1,500$ today.

Required:

How much do you expect to have in $40$ years? $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ and PVA of $$1)($Use tables, Excel, or a financial

calculator. Round your answer to $2$ decimal places.$)$