Savings plan

Answer each of the following questions in your own words. Do not copy and paste or retype the questions themselves into your document, as this will cause unreliable results at Simply provide the answers.

Consider the savings plan you developed for yourself in the discussion board. How much did you determine you will need to save each month? You do not need to report the calculations again, but simply restate your conclusion. With the savings plan you developed in the discussion, the monthly payments might be difficult to maintain or to pay at all. Suppose you decide to wait 4 more years until you retire. What are your monthly payments with this plan? Now, suppose you can find an account that earns 4.2% interest instead. How does that change your monthly payments? (You choose how long until you retire in this question). Interpret your calculated results and state some relevant conclusions. You may use ideas from the discussion board, but you are expected to write your solution using your own words to explain your reasoning. The report should be no more than 3 pages.

Sample Solution
Savings plan

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