Question: 1) Solve ALL problems using a financial calculator; please do not use annuity formulas. 2) Please show all work!!! This helps me understand how you

1) Solve ALL problems using a financial calculator; please do not use annuity formulas. 2) Please show all work!!! This helps me understand how you are thinking

1) Solve ALL problems using a financial calculator; please do not use

a) Dante Ryan is currently 50 years old. He plans to contribute $5,000 to his Roth IRA at the END of each year for 15 years, when he will retire at 65 . Compute the future value of the annuity if this account returns 7.25%, compounded annually. b) Compute how much interest he earned during the 15 -year term. \begin{tabular}{|l|l|l|l|l|l|l|} \hline Compute how much interest he earned during the 15-year term. & \multicolumn{1}{l|}{} \\ \hline & & 2b. & & & \\ \hline Show work here: & & & & & & \\ \hline & & & & & \\ \hline \end{tabular} c) Dante wishes to run an experiment. If he were to save over a longer term, by starting to save earlier (at age 40 vs. 50 ), how much would he accumulate in his IRA? Recompute the amount of the annuity. How much will he accumulate (FV)? Still END. \begin{tabular}{|l|l|} \hline N= & \\ \hline i/Y= & \\ \hline PV= & \\ \hline PMT= & \\ \hline FV= & \\ \hline \end{tabular} 2c. $ d) How much interest does Dante earn over the new 25-year term? 2d

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