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Use the information for the question ( s ) below. Assume that you are 3 0 years old today, and that you are planning on
Use the information for the questions below.
Assume that you are years old today, and that you are planning on retirement at age Your current salary is $ and you expect your salary to be fixed as long as you work. To save for your retirement, you plan on making annual contributions to a retirement account. Your first contribution will be made on your st birthday and will be of this year's salary. Likewise, you expect to deposit of your salary each year until you reach age Assume that the rate of interest is
The present value at age of your retirement savings is closest to:
The future value at retirement age of your savings is closest to:
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