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

$4,500

at the end of each year into a Roth IRA for the next

41

years. If you earn

9

percent compounded annually on your investment, how much will you have when you retire in

41

years? How much will you have if you wait 10 years before beginning to save and only make

31

payments into your retirement account?