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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
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
$5,400
at the end of each year into a Roth IRA for the next
43
years. If you earn
8
percent compounded annually on your investment, how much will you have when you retire in
43
years? How much will you have if you wait 10 years before beginning to save and only make
33
payments into your retirement account?
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