P$4-21$ Retirement planning Hal Thomas, a $25-$year$-$old college graduate, wishes to retire

at age $65.$ To supplement other sources of retirement income, he can deposit $$2,000$

each year into a tax$-$deferred individua! retirement arrangement $($IRA$).$ The IRA will

be invested to earn an annual return of $10\%,$ which is assumed to be attainable over

the next $40$ years.

a$.$ If Hal makes annual end$-$of$-$year $$2,000$ deposits into the IRA, how much will he

have accumulated by the end of his sixty$-$fifth year?

b$.$ If Hal decides to wait until age $35$ to begin making annual end$-$of$-$year $$2,000$

deposits into the IRA, how much will he have accumulated by the end of his

sixty$-$fifth year? using excel