Please do some calculations to check the validity of the following quoted statements. As for saving money, if someone begins saving $10,000 a year for retirement at age 35, that can easily turn into an impressive nest egg of more than $500,000 by age 65, . 13. Justify the ease of getting $500,000 by age 65 by calculating the required rate of return on the investment. (5 points)

But if one does not begin saving until age 50 and then sets aside $5,000 a year, that could mean a nest egg of less than $100,000, far less than many experts say is needed. 14. Justify a nest egg of less than $100,000 using the return you obtained in A. (5 points)

According to the Federal Reserves most recent figures, the median family 55 to 64 had $98,000 in retirement accounts. 15. So what does this suggest you do to prepare for your retirement? (5 points)