I am 21 years old DOB 06/21/1999 I plan to retire 12/31/2066 at age 67 I recently started saving for retirement 1/1/2021 so from the time I started saving until I retire is 46 years. I had nothing I Started 1/1/2021 I plan to ignore leap year and will only acknowledge 365 day per year and taxes will not affect any amounts or my savings. Saving Early Plan: Invest $350 at the end of each month for 15 years into an account paying 7.8% compounded monthly. the table of values p= r=0.078 a=$350 t=12 m= n/a n=46 P=350((1+.078/12)12*46 -1) . . = 1870844.23 .078/12 Assume the amount available after 15 years is invested for the remaining years until retirement in an account paying 7.8% compounded monthly and that no additional annuity payments are made. Create the following table of values to find the amountavailable at retirement for this amount Write N/A next to any variable that does not apply and write Solve next to the appropriate variable. p= r= a= t= m= n=
I am 21 years old DOB 06/21/1999
I plan to retire 12/31/2066 at age 67
I recently started saving for retirement 1/1/2021 so from the time I started saving until I retire is 46 years.
I had nothing I Started 1/1/2021
I plan to ignore leap year and will only acknowledge 365 day per year and taxes will not affect any amounts or my savings.
Saving Early Plan:
Invest $350 at the end of each month for 15 years into an account paying
7.8% compounded monthly.
the table of values
| p= | r=0.078 |
| a=$350 | t=12 |
| m= n/a | n=46 |
P=350((1+.078/12)12*46 -1)
. . = 1870844.23
.078/12
Assume the amount available after 15 years is invested for the remaining years until retirement in an account paying 7.8% compounded monthly and that no additional
| p= | r= |
| a= | t= |
| m= | n= |
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