Question: If you set aside $ 4 , 0 0 0 per year ( i . e . , one deposit of $ 4 , 0

If you set aside $4,000 per year (i.e., one deposit of $4,000 each year) in a Roth IRA for the next 20 years (the first contribution is to be made exactly one year from now, so use an ordinary annuity setup), how much will you have at your retirement in 20 years if your IRA earns 8% APR, compounded quarterly?

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