Question: Calculating Future Values. You have just made your first $1,400 contribution to your individual retirement account (IRA). Assume you earn a 11% rate of return

Calculating Future Values. You have just made your first $1,400 contribution to your individual retirement account (IRA). Assume you earn a 11% rate of return and make no additional contributions. When you retire in 25 years, the account will be worth $ _____________ If you wait 5 years before making your initial contribution, the account will be worth $________________

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