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I start a savings plan for retirement and I put away $200 a month. I would like to retire in 30 years. 1. With the

I start a savings plan for retirement and I put away $200 a month. I would like to retire in 30 years.

1. With the 3% account, the monthly payments might be difficult to maintain, so I decide to wait 35 years to retire. What are my monthly payments with this plan?

2. Suppose I can find an account that earns 4% interest instead. How does that change my monthly payments

3. State conclusions and interpretations of these calculations.

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