The future value after 49 years of retirement is 55,059.86$.
The accumulation of retirement can be found by using the future value of the investment. The future value depends on the initial deposited money, interest rate, and total years. It can be written as
A = P((1+r) / n )^(n.t)
Where A is future value, P is initial deposited money, r is interest rate, n is periods and t is total time.
From the question above, the given parameters are
P = 2000$
r = 7% = 0.07
n = 1 year
t = 49 years
By substituting the given parameters, we get
A = P((1+r) / n )^(n.t)
A = 2000((1+0.07) / 1)^(1 . 49)
A = 55,059.86$
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