Exercise $5-11($Algo$)$ Future value; ordinary annuity $($LO $5-7)$

You would like to start saving for retirement. Assuming you are now $25$ years old and want to retire at age $55,$ you have

$30$ years to watch your investment grow. You decide to invest in the stock market, which has earned about $11\%$ per year

over the past $80$ years and is expected to continue at this rate. You decide to invest $$2,000$ at the end of each year for

the next $30$ years.

Required:

Calculate how much your accumulated investment is expected to be in $30$ years.

Note: Use tables, Excel, or a financial calculator. Round your answer to $2$ decimal places. $($FV of $$1,$ PV of $$1,$ FVA of

$$1,$ and PVA of $$1)$

Accumulated investment

amount