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1. Suppose you are a 22 year old college graduate who just started working. While your current savings (or starting balance} is $0. you setup
1. Suppose you are a 22 year old college graduate who just started working. While your current savings (or starting balance} is $0. you setup an automatic deposit of $60 a month (about $2 a day or $?20 a year} starting with your rst pay- check. In other words. assume you directly deposit $60 a month into a well diver- sied investment vehicle earning 7% interest compounded yearly from now until you retire at age 6?. How much would you have 45 years from now when you re- tire at 6? according to Dave Ramsey's Investing Calculator? How much of this to- tal is earned by placing the power of compound interest to work for you? How much is due to your automatic deposits? To answer these questions, ll in the blanks after copying and pasting the question into the response area. Provide ex act dollar and cents amounts. $ is the 45-year amount you will have on retirement. Compound- ing interest will be responsible for $ while personal savings will be responsible for $
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