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Answer all questions with all parts please, thank you! Huey, Dewey, and Louie create Nest Eggs Huey, Dewey, and Louie are triplets. They are 25

Answer all questions with all parts please, thank you!

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Huey, Dewey, and Louie create Nest Eggs Huey, Dewey, and Louie are triplets. They are 25 years old and are trying to set up savings plans for themselves. They plan to retire at age 65. They each have different ideas. All APRs are 4%. Huey's plan: Plans to start now and deposit $100 each month into the account and leave the money in the bank until he retires at age 65. Dewey's plan: Plans to start now but Dewey doesn't want to be bothered with monthly payments like Huey. He wants to hang onto his money throughout the year, and then make just one payment at the end of each year. He'll deposit $1200 per year in his bank. He figures that at retirement his Nest Egg will be the same size as Huey's because each year, he's deposited just as much. Louie's plan: Louie's a party guy! He wants to have fun with his money while he's young! He decides he'll put off saving until he's 45, at which time he'll start putting in twice as much per month as Huey ($200). He figures with this plan, his Nest Egg ought to be the same size as Huey's when they retire at age 65. (Twice as much for Ya the time ought to be the same, right?) 1. (10 pts) Huey's Retirement Plan a. Determine the number of years Huey will be saving for his retirement. b. How much money will Huey personally deposit into his retirement account? Show your calculation. c. Find Huey's account balance when he retires at age 65. Ne FV = 1% = PNY = PV = CNY = PMT = PMT: END REGIN d. How much interest will Huey's account earn? Show your work Rowan- MAT 143: Lab (4.3) Cabarrus 2 (10 pts) Dewey's Retirement Plan a Determine the number of years Dewey will be saving for his retirement. b. How much money will Dewey personally deposit into his retirement account? Show your calculation. Find Dewey's account balance when he retires at age 65. N = FV = 1%% = PN = PV = CNY = PMT = PMT: END BEGIN d. How much interest will Dewey's account eam? Show your work. 3, (10 pts) Louie's Retirement Plan a Determine the number of years Louie will be saving for his retirement b, How much money will Louie personally deposit into his retirement account? Show your calculation. Find Louie's account balance when he retires at age 65. FV - PN PV CN = PMT = PMT; END BEGIN d. How much interest will Louie's account earn? Show your work

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