a) What your annual desired income was? $65,000

b) How long you had until retirement. 40 years

c) How much did you determine you will need to save each month? (You do not need to redo or reshow the calculations again, just please restate your numbers and conclusion.) $5000 each month

2) With the savings plan you developed in the discussion, the monthly payments might be difficult to maintain or to pay at all. Suppose you decide to work for 6 more years before retiring. What are your monthly payments with this plan?

3) Now, suppose you can find an account that earns 5.2% interest instead. How does that change your monthly payments? (You choose how long until you retire in this question).

4) How much interest are you earning in your 5.2% scenario?

5) Which do you think is a better option and why? Interpret (don't just re-state) your calculated results and list some of your relevant conclusions.