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 $65.$

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.

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.