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Suppose you invest $150 a month for 6 years into an account earning 6% compounded...

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Finance

Suppose you invest $150 a month for 6 years into an account earning 6% compounded monthly. After 6 years, you leave the money, without making additional deposits, in the account for another 22 years. How much will you have in the end?

You want to be able to withdraw $35,000 from your account each year for 15 years after you retire. You expect to retire in 25 years. If your account earns 8% interest, how much will you need to deposit each year until retirement to achieve your retirement goals?

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