To prepare for your retirement 30 years from now, you plan to save the following amounts each month over the next 30 years: The interest rate is 6% APR

The appropriate FVFA is: ______

Years: Amount: FV at the end of the decade: 1-10 $200. $32,776 11-20 $900. $147491 21-30 $1,200 $57349

(2) After 30 years, you are ready to retire. You move your savings to safer investments, which means you expect to earn only 3% APR per year during your retirement. You expect to live for 25 more years. How much could you withdraw every month and not run out of money for 25 years? The correct PVFA for this calculation is: ________ Withdraw per month in retirement: _______