John Johnson begins contributions $$4,000$ into his Roth IRA on his $20$ th birthday. He ptans

to contribute $$4,000$ each year until he becomes $55$ years old $(35$ deposits$).$ Mr$.$ Johnson

plans to wait until he is $65(10$ more years$)$ before starting to take distributions. If his

account earns $6\%$ annual interest each year:

a$)$ What is the value of his Roth IRA at the age of $55?$

b$)$ What is the value of his Roth IRA at the age of $65?$

c$)$ If he continues to earn $6\%$ on his account, what is the maximum amount of his

monthly distribution for the next $20$ years? Hint: Use MS Excel $($i$.$e$.$ Rate NPR PMT PV

FV$)$