Calculate the time value of money

Assume you will retire at 67. You decide to open a retirement account that earns 8% interest. You put $125 per month into this account starting now (at your current age), for a 10-year period. After that, you stop contributing to this account, and the account continues to earn 8% interest. How much money will you have at age 67?

Part 1

PV

FV

N

I

PMT

Part 2

PV

FV

N

I

PMT