You have decided that you can afford to save $100 at the end of every month. You predict that your investments will earn 4.8% compounded monthly.

a. How much will you have when you retire at age 65 if you begin your end-of-month savings plan at age 26?

b. How much will you have when you retire at age 65 if you begin your end-of-month savings plan at age 30?

c. By delaying the savings program by 5 years, you have contributed only $6000 less than if you had begun investing at age 25, yet the difference in the accumulated savings at age 65 is quite dramatic. How much more do you have at age 65 when you start saving at age 25 instead of 30? Express your answer in both dollars, and as a percentage of the total in Part (b).