Assume that your selected job has a retirement plan that allows you to save for 30 years.

• 1. If 5.0% of your monthly income is put into a retirement account, how much should you expect if the annual return is 22.44%?
• 2. How much should a high school graduate expect to get if they also save 5.0% of their salary for 30 years?
• 3. Use an absolute or relative change statement to compare the retirement accounts of the high school. graduate and your retirement. Make sure to include both formulas used to get the retirement price.
• 4. How much money would you need to save each month to reach one million dollars in 30 years?
• 5. Is this a feasible monthly payment for the job you have chosen?
• 6. Use an absolute or relative change sentence comparing the money needed to reach one million dollars and the money you already are saving (5.0% of your monthly income).

Answer rating: 100% (QA)

1 To calculate the future value of the retirement account for your selected job textFuture Value P f... View the full answer