Consider the retirement investment with 5.99% APR for 30 years using 6.5% of your monthly income. Which scenario will give you the best value for retirement? For each scenario, find the relative change from the original retirement amount to the doubled amount.

If you were to double the APR (from 5.99% to 11.98%), how much would you have in your retirement account? Write a meaningful sentence about the relative change from the original to the new value.

If you were to double the contribution into the account (from 6.5% to 13% of monthly salary), how much would you have in your retirement? Write a meaningful sentence about the relative change from the original to the new value.

If you were to double the time that you are investing (from 30 years to 60 years), how much would you have in your retirement account? Write a meaningful sentence about the relative change from the original to the new value.

6. Assume 6.5% is saved for retirement with 5.99% APR (as in previous problems).

How much money would you need to save each month to reach one million dollars in 30 years?

Is this a feasible monthly payment for the job you have chosen?

Use an absolute or relative change sentence comparing the money needed to reach one million dollars and the money you already are saving with 6.5%.

( 47,480 per year and the high school grauduate yearly salary is 25,000)