Justin is saving for his retirement 20 years from now by setting up a savings plan. He has set up a savings plan wherein he will deposit $129.00 at the end of each year for the next 12 years. Interest is 4% compounded annually.

(a) How much money will be in his account on the date of hisretirement?

(b) How much will Justin contribute?

(c) How much will beinterest?

Answer:

a) The future value will be $

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places asneeded.)

(b) Justin will contribute $

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places asneeded.)

(c) The interest will be $

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places asneeded.)