Question: Write the answers in the space allotted. Partial credit will be given 1. Time Value of Money: You are saving up for retirement and are

Write the answers in the space allotted. Partial credit will be given

1. Time Value of Money:

You are saving up for retirement and are able to save $9,000 per year.

a. Suppose you can earn 8.5% on your investment. How much will you have after 30 years? PV = FV = N = PMT = I =

b. How much would you have if you work for an additional 5 years? PV = FV = N = PMT =. I =

c. How much will you have to save per year to earn same amount in 30 years, instead of 35? PV = FV = N = PMT = I =

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