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1. Consider the savings plan you developed for yourself in the discussion board. How much did you determine you will need to save each month?
1. Consider the savings plan you developed for yourself in the discussion board. How much did you determine you will need to save each month? You do not need to report the calculations again, but simply restate your conclusion. If I decided to retire at 45 years old which is in ten years, and wanted to make $80,000 a year I would need to earn $6,667.67 each month from my pension. 2. With the savings plan you developed in the discussion, the monthly payments might be difficult to maintain or to pay at all. Suppose you decide to wait 4 more years until you retire. What are your monthly payments with this plan? This pension saving plan is a realistic plan. If I decided to wait 4 more years and retire at the age of 49 years old at a 3.7% annual rate I would need to earn X amount of dollars a month to make $80.000 a year. 3. Now, suppose you can find an account that earns 4.2% interest instead. How does that change your monthly payments? (You choose how long until you retire in this question 40 years old). 4. Interpret your calculated results and state some relevant conclusions need question 2 and 3 answered
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