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You are 30 years old and want to start a pension plan. You expect to...

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Finance

You are 30 years old and want to start a pension plan. You expect to retire in 30 years and want to make a monthly contribution of 50 euros. Your rate of return is 12% per year.

a. How much money do you expect to have in your pension plan on the day of your retirement? b. Using your own words and without calculations, explain what will happen to your pension plan if, instead of retiring in 30 years, you retire in 40 years. c. On the contrary, if you decide to retire when you are 55 years old, what will happen to your pension plan? Do the calculations and relate it to the previous question. d. If you want to have in your pension plan 200,000 euros when you retire in 30 years from now, how much will you have to invest a month?

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