After graduating from college you have your first job in your area of study and are making $115,000 per year.

You are paid once each month and decide to put 10% of each paycheck into your retirement account at the end of each month.
How much will you deposit into the accounteach month? Round to the nearest $1.

$ per month

For the parts below, use the rounded value for your deposit amount.

The investements that you chosen to invest in average 7% growth per year compounded monthly.
How much will you expect to have in the account in 30 years?

$

How much total money will you put into the account?

$

How much total growth/interest should you expect will you earn?

$

If you manage to save an additional $100 each month, how much will you have in the account after 30 years?

$

$11,500 per year or $958.33 per monthThe amount of money you will have in your account in 30 years would be $1,311,715.94The total money you will put into the account is $3,465,000The total growth/interest you should expect to earn is $946,315.94If you manage to save an additional $100 each month, you will have $1,385,719.71 in the account after 30 years.

Step-by-step explanation:

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