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You have just made your first $5,700 contribution to your retirement account. Assuming you earn an 13 percent rate of return and make no additional
You have just made your first $5,700 contribution to your retirement account. Assuming you earn an 13 percent rate of return and make no additional contributions, your retirement account will be worth $592,728 when you retire in 38 years.
What will your account be worth at retirement if you had waited 13 years before making the $5,700 contribution? (Round time value factors to 6 decimal places and final answer to the nearest dollar amount. Omit the "$" sign and commas in your response. For example, $123,456 should be entered as 123456.)
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