Chapter $5$Chapter $5$

Chapter $5$& ow$/25-7/1$

Discussion Question

a $30-$year$-$old student wants to save $$10$ a day for her retirement. Everyday she places $$10$ in a drawer. At the end of each year, she invests the accumulated savings $($ $$3,650)$ in a brokerage account with an expected annual return of $5\%$

$(1)$ If she keeps saving in this manner, how much will she have accumulated a age $70?$

$(2)$ If a $45-$year old investor began saving this way, how much would he have a age $70?$

$(3)$ How much would the $45$ year old investor have to save each year to accumulate the same amount at $70$ as the $30-$ year$-$old investor?Chapter $5$