You just turned 20 years old and want to retire when you turn 65. You plan to put $3,100 every year into a ROTH IRA, a retirement account from which you can withdraw money after retirement without having to pay any taxes. You expect to earn a return of 4% on your investments every year.

Part 1

How much money can you expect to have at age 65 if you make your first annual deposit now and your last one on the day you turn 64?