Question: 18. Calculating Future Values. You have just made your first $5,000 contribution to your individual retirement account. Assuming you earn an annual rate of return

18. Calculating Future Values. You have just made your first $5,000 contribution to your individual retirement account. Assuming you earn an annual rate of return of 9.75 percent and make no additional contributions, what will your account be worth when you retire in 45 years? What if you wait 10 years before contributing? (Does this suggest an investment strategy?)

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