Now suppose that your plan is to put $100 at the beginning of each month into a savings account which pays 4.5% interest, compounded monthly. As usual, interest is paid at the end of each month on money which has been in the account all month; in other words, your first deposit does earn interest during the first month.

2a.) If you start saving $100 per month when you are 25, how much will you have in the account when you turn 70? [Assume that you make 12 deposits when you are 25, another 12 when you are 26, etc., but no more deposits once you are 70.]

2b.) If you start saving $100 per month when you are 35, how much will you have in the account when you are 70? [Again, assume that you make 12 deposits when you are 35, another 12 when you are 36, etc., but no more deposits once you are 70.]

2c.) How much more money will you have in the account at age 70 if you start saving at age 25, than if you start at age 35?