44. Use the Home & Tool Tabs in RIA Checkpoint to answer the following questions.

a. What are the different windows shown on the Home Tab?

b. With the savings tool found on the Tool Tab, determine how much you need to start saving now (based on your current age) to have $1 million when you are sixty-five. Use an expected rate of return of 6 percent and expected inflation rate of 2.5 percent. Repeat the process adding ten years to your current age.

c. With the auto tool found on the Tool Tab, determine whether it would be better to buy or lease an automobile. The cost of the car is $30,000 and the down payment is $1,000. Assume a rate of return and interest rate of 8 percent, sales tax rate of 7 percent, and depreciation rate of 20 percent. The loan would be for five years. The lease option would be for three years with

$100 in fees and $500 for a security deposit. The residual value of the car would be 60 percent.