Lets say you are 23 years old and planning on retiring when you are 70. You plan on saving and depositing into an account that yields, on average, 4% per year. You do not intend to take out any principle or interest until you retire.Lets say you are 23 years old and planning on retiring when you are 70. You plan on saving and depositing into an account that yields, on average, 4% per year. You do not intend to take out any principle or interest until you retire.

2) Let's say you are 23 years old and planning on retiring when you are 70 . You plan on saving and depositing into an account that yields, on average, 4% per year. You do not intend to take out any principle or interest until you retire. a) Approximately how long (approximate years) would it take if you put in a lump sum to double at the rate above? b) How much will you have after 47 years if you deposit $5,214 at the end of each year? c) How much will you have after 47 years if instead, you deposit $100 at the end of each week instead (forget about the leap years, pretend there are 52.14 weeks per year for the next 47 years) at the same growth rate