Question: Problem #4-You have just made your first $5,000 contribution to your retirement account. Assume you earn a return of 10 percent per year and make

Problem #4-You have just made your first $5,000 contribution to your retirement account. Assume you earn a return of 10 percent per year and make no additional contributions.

What will your account be worth when you retire in 45 years?

What if you wait 10 years before contributing?

After calculating parts a and b, what is the lesson learned?

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