3.

Shaylea, age 22, just started working full time and plans to deposit $4900 annually into an IRA earning 10 percent interest compounded annually. Deposits will be made at the end of each year. How much would she have in 20 years, 30 years, and 40 years? If she changed her investment period and instead invested $408.33 monthly and the investment also changed to monthly compounding, how much would she have after the same three time periods? Comment on the differences over time.

With annual investments and compounding, after 20 years, Shaylea would have $__________. Round to the nearest cent.