Suppose on your twenty-fifth birthday you opened a retirement account with the Howard Fund - a fund paying investors 8 percent return compounded yearly on their investments - with a threethousand dollars investment , and you made the same investment to that account on your birthday for the next 19 years, making no further investments to (or withdrawals from) the account. On your 65th birthday
(a) What would be the worth of your retirement?
(b) What would be your total investment?
(c) What would be the total return on your investment?
(d) What would be the annual return over the period?