A 20-year-old student wants to save $1000 a year for her retirement. Every year she invests $1000 in a mutual fund with an expected annual return of 8%. How much money will she have when she is 65 years old? Assume that she invests right away and did not have any money in her saving account.

Part B

The same student, she wants to save $100 a month instead of $1000 a year. How much money will she have when she is 65 years old?

Part C

The same student, she wants to have $1,000,000 in her account when she is 65 years old. How much money she should invest per month? If her mom gives her an additional $1000 for investing at the beginning. Use this as a present value.