You just turned 24 years old and want to retire when you turn 65. You plan to put $3,900 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 7% on your investments every year.

Attempt 1/5 for 10 pts.

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?