MUST USE FVA/PVA TABLE

7. You have decided that beginning one year from now you are going to deposit your $2,000 annual dividend check at the credit union to build up a retirment fund. The account will be credited with an 8% compound annual interest rate. (a) If you decide to retire 30

precisely show how you applied the appropriate table to solve this problem.

years from now, how much will be in the account at that time? (b) If you decide to retire 10 years earlier than that, how much will be in the account? (c) What is your annual loss (or loss per year) of shortening your investment program by 10 years?