Please respond to the following scenarios by calculating the Time Value of Money.

Scenario $1$

Assume you will retire at $67.$ You decide to open

a retirement account that earns $8\%$ interest. You

will put $$125$ per month into this account

starting now at $22$ years old. How much

money will you have in this account when you

retire?

Scenario $2$

Assume you will retire at $67.$ You decide to open

a retirement account that earns $8\%$ interest. You

put $$125$ per month into this account starting

now, at $22$ years old, for a $10-$year period.

After that, you stop contributing to this account,

and the account continues to earn $8\%$ interest.

How much money will you have at age $67?$

Scenario $3$

Assume you do not start saving now, but wait

for $10$ years, or when I am $32.$ You will retire at $67,$ and earn $8\%$

on your monthly deposits of $$150.$ How much

will you have at $67?$

Scenario $4$

Assume you will retire at $67.$ You decide to open

a retirement account that earns $8\%$ interest. You

will put $$325$ per month into this account

starting ten years from now, when I am $32.$ How much money

will you have in this account when you retire?

Fill out the tables with the answers from each scenario.