Unit 5 Discussion For Survey Mathematics
Open the Investment Calculator.
Enter an amount between $100 and $500 that you think you can afford to save each month for retirement into the spreadsheet.
Calculate how many years it will be until you reach age 67. Enter this amount into the spreadsheet.
Choose an interest rate between 1% and 7% and enter it into the spreadsheet.
Add 10 years to your previous age calculation to determine how much more you could have accumulated if you started 10 years ago.
The investment calculator will show you how much you can save if you invest today and how much you could have accumulated if you had started your investing 10 years ago.
In your post, include the following information and answer the questions:
The amount you chose to save each month.
The number of years until you reach 67.
The interest rate you used.
The result of your two investment scenarios.
How much more would you have for your retirement if you had started saving 10 years ago?
Did the results surprise you in any way? Explain.
Do you think the amounts you have calculated will be enough to retire on?
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