Question: Problem 5 - 1 8 Calculating Future Values [ LO 1 ] You have just made your first $ 4 , 7 0 0 contribution

Problem 5-18 Calculating Future Values [LO1]
You have just made your first $4,700 contribution to your retirement account. Assume you earn a return of 13 percent per year and make no additional contributions.
0. What will your account be worth when you retire in 32 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g.,32.16.)
b. What if you wait 10 years before contributing? (Do not round intermediote calculations and round your answer to 2 decimal places, e.g.32.16.)
\table[[a. Future value for starting now],[b. Future value il waiting 10 years]]
Problem 5 - 1 8 Calculating Future Values [ LO 1

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