1. If you put $500 into a regular savings account in the bank when you are 18 years old, and add $50 each month, how much will you have when you are 68 years old (50 years later)?
~$822.32. I'm surprised because it looks like you'll be saving quite a good amount of money so I expected to have more money but I guess not.
2. If you put $500 into a regular savings account in the bank when you are 30 years old, and add $50 each month, how much will you have when you are 68 years old (38 years later)?
~$59,016.94. That's a lot of money!!!
3. If you put $500 into a regular savings account in the bank when you are 40 years old, and add $50 each month, how much will you have when you are 68 years old (28 years later)?
~$30,076.26
That is a lot of money!
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