Question: ASSIGNMENT 1 & 2 1. At the time of your birth, your aunt deposited $16,000 for you into an account earning 8% annually. a.

ASSIGNMENT 1 & 2 1. At the time of your birth, your aunt deposited $16,000 for you into an account earning 8% annually. a. How much money will you have on your 25th birthday? b. How much money will you have when you turn 45? c. How much money will you have by the time you retire at age 60? 2. You want your newborn to have $80,000 at age 18. How much would have to be deposited, assuming a 6% interest rate compounded annually?

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