Please answer using the outline! Question $2$

a$)$ Dante is currently $50$ years old. He plans to contribute $$7,500$ to his Roth IRA at the END

of each year for $15$ years, when he will retire at $65.$

Remember to return the

calculator to END mode.

Compute the future value of the annuity if this account returns $7\mathrm{.}25\%,$ compounded annually.

b$)$ Compute how much interest he earned during the $15-$year term.

$2$b$.$ $

c$)$ Dante wishes to run an experiment. If he were to save over a longer term, by starting to save

earlier $($at age $40$ vs$.50),$ how much would he accumulate in his IRA?

Recompute the amount of the annuity. How much will he accumulate $($FV$)?$ Still END.

$2$c$.$ $

d$)$ How much interest does Dante earn over the new $25-$year term?

$2$d$.$ $

e$)$ Would you recommend that Dante start saving for retirement at $40$ or $50?$ Why?