Week $5$: Time Value of Money

Provide at least one real$-$life scenario in which you can apply the concept of time value of money! In your example, provide all the information needed for a classmate to solve it$.$ Do not solve it yourself. Instead, try to solve a classmate's posted example!

To get you started, here is a sample post:

Joe BagODonuts wants to buy a $$110,000$ Porsche when he retires in $5$ years. He already has $$75,000$ saved up$,$ and it is invested and earning $12\%$ per year. Will he have enough money to buy the Porsche when he retires?