Your Retirement: Plan 1 - Starting Early

b) Upon retirement (40 years from now) you want to receive "x dollars" (amount of money you choose in Part a) each month for a period of 28 years. This money resides in an account that pays 6.1% interest. How much money must be in the account to fulfill your goal? Amount of money needed

c) You plan to deposit money every month for 40 years into an account that pays 5.6%. What monthly deposit must you make to achieve the amount of money determined in the answer to Part b above? Payment amount

d) How much money did you actually deposit into the account? Total amount deposited

e) How much money will you actually receive in payments during retirement? Total amount received

For part A i used the 1340 for the desired amount but i am not sure how to do parts B -E. Please show what formulas were used.

MathAS Assessment New tab | mathas.pvc.maricopa.edu/assessment/showtest.php Your Retirement: Plan 1 - Starting Early a) Enter your desired amount of money you wish to receive each month while retired DO NOT TYPE COMMAS OR ANSWERS WILL BE MARKED INCORRECT 1340 b) Upon retirement 40 years from now you want to receive x dollars amount of money you choose in Part a each month for a period of 28 years. This money resides in an account that pays 6.1% interest. How much money must be in the account to fulfill your goal? Amount of monev needed S DO NOT TYPE COMMAS OR ANSWERS WILL BE MARKED INCORRECT. Round your answer to 2 decimal places as needed c) You plan to deposit money every month for 40 years into an account that pays 5.6%. What monthly deposit must you make to achieve the amount of money determined In the answer to Part b above? Pavment amount S DO NOT TYPE COMMAS OR ANSWERS WILL BE MARKED INCORRECT. Round your answer to 2 decimal places as needed d) How much money did you actually deposit into the account? Total amount deposited-$ DO NOT TYPE COMMAS OR ANSWERS WILL BE MARKED INCORRECT. Round your answer to 2 decimal places as needed e) How much money will you actually receive in payments during retirement? Total amount received $ DO NOT TYPE COMMAS OR ANSWERS WILL BE MARKED INCORRECT. Round your answer to 2 decimal places as needed Your Retirement: Plan 2 - Waiting Until Middle Age vs 5.6 4:11 PM Search the web and Windows 6/27/2016