FA21 MA123 Final Project Due on 12/3/21 at 11:59 p.m. I General Descriptions: In this project, you are expected to write a report to compare two saving plans and to compare two retirement plans. You can work individually or work with a partner (max group size of 2). If you work with a partner, both of you are required to submit the report. Make sure all group members' names are included in the document. What you need to submit: - A written summary: no more than 2 single pages (single-spaced, Times New Roman, 11pt font with standard 1-inch margins). - You can include pictures of written calculations at the end of the report. If you do, please clearly label each calculation. II Scenarios: Part I Kevin plans to retire in 30 years, and he plans to save up $250,000 for retirement. He has two options as follows. Plan 1: compounded monthly with an APR of 3.3% Plan 2: compounded quarterly with an APR of 3.5% Compare these two options to see which one is more beneficial for Kevin. When you make the comparison, you should at least calculate 1. the amount he needs to deposit each time period 2. the total interest accrued Part II Kevin wants to make the best choice for his retirement plan. He can withdraw money weekly, monthly, or quarterly. He needs to compare all three options and see if there is a difference in these three cases. He has $250,000 saved for retirement in an account earning 3.5% interest. He plans to make regular withdrawals for 25 years. Compare these three options to see which one is more beneficial for Kevin. When you make comparison, you should at least calculate 1. the amount he can withdraw each time period 2. the amount in total he can withdraw in 25 years What observation can you make about the withdraw frequency when the interest rate stays the same? III Written Report: You should include: Detailed calculations, at least the two calculations mentioned in each part. Make sure you answer all questions: 1. Which plan is better in part I? 2. Which plan is better in part II? 3. In part II, "what observation can you make about the withdraw frequency when the interest rate stays the same? A summary of the comparisons in each part. IV Rubric: Ratings Descriptions 0-10 Accuracy of the calculations. 0-6 Accuracy of the interpretation for each question asked. 0-4 Final summary about the results and written report organization. (Make sure your report has the assigned formatting.) 0-20 NELLA na tw vom Eishoco A watap babomo .20ced to stood of love and to Bottlob obu strost IL Halloween to storio bendradarbiauto v de radio anodigo se llama es aber von ollators and to be 0000053 10 to liste de la dalle teolood dodamo Botos! FA21 MA123 Final Project Due on 12/3/21 at 11:59 p.m. I General Descriptions: In this project, you are expected to write a report to compare two saving plans and to compare two retirement plans. You can work individually or work with a partner (max group size of 2). If you work with a partner, both of you are required to submit the report. Make sure all group members' names are included in the document. What you need to submit: - A written summary: no more than 2 single pages (single-spaced, Times New Roman, 11pt font with standard 1-inch margins). - You can include pictures of written calculations at the end of the report. If you do, please clearly label each calculation. II Scenarios: Part I Kevin plans to retire in 30 years, and he plans to save up $250,000 for retirement. He has two options as follows. Plan 1: compounded monthly with an APR of 3.3% Plan 2: compounded quarterly with an APR of 3.5% Compare these two options to see which one is more beneficial for Kevin. When you make the comparison, you should at least calculate 1. the amount he needs to deposit each time period 2. the total interest accrued Part II Kevin wants to make the best choice for his retirement plan. He can withdraw money weekly, monthly, or quarterly. He needs to compare all three options and see if there is a difference in these three cases. He has $250,000 saved for retirement in an account earning 3.5% interest. He plans to make regular withdrawals for 25 years. Compare these three options to see which one is more beneficial for Kevin. When you make comparison, you should at least calculate 1. the amount he can withdraw each time period 2. the amount in total he can withdraw in 25 years What observation can you make about the withdraw frequency when the interest rate stays the same? III Written Report: You should include: Detailed calculations, at least the two calculations mentioned in each part. Make sure you answer all questions: 1. Which plan is better in part I? 2. Which plan is better in part II? 3. In part II, "what observation can you make about the withdraw frequency when the interest rate stays the same? A summary of the comparisons in each part. IV Rubric: Ratings Descriptions 0-10 Accuracy of the calculations. 0-6 Accuracy of the interpretation for each question asked. 0-4 Final summary about the results and written report organization. (Make sure your report has the assigned formatting.) 0-20 NELLA na tw vom Eishoco A watap babomo .20ced to stood of love and to Bottlob obu strost IL Halloween to storio bendradarbiauto v de radio anodigo se llama es aber von ollators and to be 0000053 10 to liste de la dalle teolood dodamo Botos