How much will be in the account when the individual retires at age 65 if the savings program starts when the person was age 45?

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 24P
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At the end of each year a self employed person deposits 1500 in a retirement account that earns 10 percent annually. How much will be in the account when the individual retires at age 65 if the savings program starts when the person was age 45?
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