Using your current age, you now decide to begin putting money aside for retirement. You plan to save $______(pick a reasonable amount; $2,000-$10,000) at the end of each year (so the first deposit will be a year from now) until the age of 65. Suppose you will earn 8% per year on your retirement savings.

For every scenario, compound the interest annually. How much will you have saved by the age of 65? Calculate again at 6% and 10%. What would happen if you waited to start another 10 years? Again, calculate at 6% and 10%. 3. After calculating all of these scenarios, what were you most surprised to learn and why?

Lets use $2,500,

pick age 35