Ssignment Chapter 14 Planning for Retirement The rnther pay evtre on my buls and get those takm care of first." Many people who did establich a retirement plan have found that, years into their pian, ther made three matoles: - They itarted too late. - Ther pak away too lutile. - Ther invested too conservabively. And these pillals are magrified when you consader compound interest. Consider the compound interest effiod in the following two scenarios. (Note: In your calculations, wse oither the formula or the financial calculator. Round your answers to the pearest cert), Macuet, age 30, is starting has savings plan this year by putting owsy $1,000.00 at the end of every year until he reaches age 65 . He mill decocer this money at his local savings and loun ot an interest rate of 6%. Thellare value anity interet factor is 111.4348 , Bused on the ifformation prowided, by the tine Manuel turns 65 , he will have She will depost this mooer wt her local savings and loan at an interest rate of 6%. Deficure value annuty interest factor is 79.0592 . Eased on the information provideds, by the time Poomima turns 65 , she will have have enomitaled more than Poemuma. more than Poornima. By the time Manuel turns 65 , he will