Rene also wants to begin saving money for her retirement. She wants to open a savings account at BB&T$.$

She researched to find the information below. Rene, who is now $32$ years old, plans to retire at age $67.$

Calculate the amount in her savings account under the following situations:

Situation $1$: Rene deposits $$150$ faithfully every month into the account.

Situation $2$: Rene deposits $$200$ every month for the first $15$ years and then just lets the account

accumulate interest until retirement $($assume the interest doesn$$t change and the

account is compounded monthly$)$

Determine how much money Rene would have in the account for each situation.

Determine the amount of interest Rene earned on her money for Situation $1.$

Are either of these a good savings vehicle for Rene? Why$/$why not?