NEED SECOND PART ANSWERED ASAP PLEASE!!

Problem 13 Intro You just turned 20 years old and want to retire when you turn 65. You plan to put $3,600 every year into a ROTH IRA, a retirement account from which you can withdraw money after retirement without having to pay any taxes. You expect to earn a return of 7% on your investments every year. Part 1 IB Attempt 1/10 for 10 pts. How much money can you expect to have at age 65 if you make your first annual deposit now and your last one on the day you turn 64? 1100706.345 Correct Since the first payment occurs right now rather than one period from now, this is an annuity due rather than an ordinary annuity. We have to find the future value of an annuity due over 45 years. The future value of an annuity due is: FV (11 + R)* 1)(1+r) 3,600 (1.0745 1). 1.07 0.07 = 1,100,706 Using Excel (do not enter the thousands separators): =FV(rate, nper, pmt, pv, type) =FV(0.07, 45, -3,600, 0, 1) =1,100,706 1100706.345 Correct Since the first payment occurs right now rather than one period from now, this is an annuity due rather than an ordinary annuity. We have to find the future value of an annuity due over 45 years. The future value of an annuity due is: FV + R 3,600 ? (1.0715 1) . 1.07 0.07 = 1,100,706 Using Excel (do not enter the thousands separators): =FV(rate, nper, pmt, pv, type) =FV(0.07, 45, -3,600, 0, 1) =1,100,706 Part 2 IB Attempt 2/10 for 9.5 pts. How much money can you expect to have at age 65 if you make your first deposit 10 years from now (at age 30) and your last one on the day you turn 64? 0+ decimals Submit