Answer Happy

tes You have just made your first $5,000 contribution to your individual retirement account. Assume you earn a 10.2 percent rate of return and make no additional contributions. a. What will your account be worth when you retire in 40 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What if you wait 10 years before contributing? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. Account value) b. Account value

8 nts eBook References You expect to receive $30,000 at graduation in two years. You plan on investing it at 7 percent until you have $100,000. How long will you wait from now? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Years to wait