To find out the future value (FV) of your account, we can use the formula for compound interest:

$FV = P \times (1 + r)^t$

where:

• $P$ is the principal (initial deposit), which is $2600,
• $r$ is the annual interest rate (expressed as a decimal), which is 9% or 0.09,
• $t$ is the number of years.

Part 1: Future Value in 30 Years

For $t = 30$ years, the future value is:

$FV_{30} = 2600 \times (1 + 0.09)^{30}$

Part 2: Future Value in 40 Years

For $t = 40$ years, the future value is:

$FV_{40} = 2600 \times (1 + 0.09)^{40}$

Let me calculate these values.### Results:

• In 30 years, your account will be worth $34,495.96.
• In 40 years, your account will be worth $81,664.49.

Would you like more details on how this was calculated or any further questions?

Here are some related questions you might consider:

1. What if the interest rate were lower, say 5%? How would that change the results?
2. What if you made annual deposits in addition to the initial $2600?
3. How does compounding monthly rather than annually affect the future value?
4. What if you withdrew part of the money after 20 years?
5. How does inflation impact the purchasing power of the future value?

Tip: The longer your money stays invested with compound interest, the more substantial the growth due to the compounding effect!