You are 22 years old and currently have $50,000 in savings for retirement. You will start making quarterly contributions to your savings at the beginning of each quarter in the amount of $500. If you earn an average of 6.25% on your savings, how much will you have at retirement at age 65? 6.25% 50,000 500 65 m= 22 4 Value of current savings at retirement: Value of annual contributions at retirement: Total Savings