You are going to graduate from Davenport University on your 25th birthday. You have no money in the bank when you graduate. You learned in your wonderful Finance class that you really should start saving money to plan for retirement as soon as possible but you decided that you do not want to save any money and just want to have fun and spend all your money until you are 45 then start putting money away. At age 45 you will put $3,000 into a Roth IRA account at the end of each year and live off all the money in this IRA account. The interest rate you will earn over these years will be 9%. How much money would you have in your account if you only save 20 years? $ 60,000.00 $ 1,013,647.34 $ 972,864.25 None of these selections are correct $ 153,480.36