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Assuming an age of 28 at the beginning of each year

1. Assuming a .01 % APR and a beginning balance of $300 today. And then suppose you save $100 a month for 5 years. How much will you have at the end of 5 years?

2. Assuming an age of 28. At the beginning of each year, starting today, you put $3,000 in an investment account earning 8% per year and you continue making $3,000 contributions every year until you reach age 70.

a. How much will you have in your retirement account?

b. How much will you have in your account if you start contribution one year from now, instead of today?

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Financial Accounting: Assuming an age of 28 at the beginning of each year

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