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(Use this information for the next 2 questions) A 20-year-old student wants to save $1000 a year for her retirement. Every year she invests $1000
(Use this information for the next 2 questions) A 20-year-old student wants to save $1000 a year for her retirement. Every year she invests $1000 in a mutual fund with an expected annual return of 8%. How much money will she have when she is 65 years old? Assume that she invests right away and did not have any money in her saving account. The same student, she wants to save $100 a month instead of $1000 a year. How much money will she have when she is 65 years old? O $512,178.81 $612,123.89 $530,970.35 $386,505.62 $412,778.24 The same student, she wants to have $1,000,000 in her account when she is 65 years old. How much money she should invest per month? If her mom gives her an additional $1000 for investing at the beginning. Use this as a present value. O $137.21 O $157.27 $161.57 O $278.61 $181.52
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