To motivate individuals to start saving at an early age, financial planners will sometimes present the results

Question:

To motivate individuals to start saving at an early age, financial planners will sometimes present the results of the following type of calculation. How much must a 25-year-old individual invest five years from now to have the same value at age 55 as an immediate investment of $1000? Assume that both investments earn 8% compounded annually.
Maturity
Maturity is the date on which the life of a transaction or financial instrument ends, after which it must either be renewed, or it will cease to exist. The term is commonly used for deposits, foreign exchange spot, and forward transactions, interest...