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

$4,000 at the end of each year into a Roth IRA for the next 45 years. If you earn 7 percent compounded annually on your investment, how much will you have when you retire in

45 years? How much will you have if you wait 10 years before beginning to save and only make 35 payments into your retirement account?