Please show your entries so that if you happened not to get it correct.If you used Excel, you might want to also submit a copy of your spreadsheet.

5.Let's assume you are currently 25 years old and plan to retire at age 70.You have managed so far to put away the grand total of $600 for your retirement account.You open an account with your $600 and set up monthly contributions (end of each month) of $150.That's all you can afford right now.The investment advisor puts you in some nice mutual funds that she feels will easily return you 8.5% annually.If you never increase your monthly contribution, how much will you have accumulated at the age of 70 (45 years=540 months)?