On paper, complete the following work for Plan 1:
- I need to make a table containing the values for and
. Write P, A, M, r, t, n N/A next to any
variable that does not apply and write Solve next to the appropriate variable.
2. Indicate the best formula to use to compute the amount available at retirement,
3. Substitute the values into the formula and compute how much money will be available at
4. Compute the amount of money you paid into the retirement account over the 43 years
from the time you started saving, and
5. Compute the total amount of interest earned over the entire 43 years of saving.
6. Take a picture of your supporting work (1, 2, 3, 4 & 5 above). Insert your picture in the
appropriate location for Plan 1 Supporting Work in your group's Project Result
7. Enter the amount of money available at retirement, the amount of money you paid into
the retirement account, and the amount of interest earned over the entire 43 years of
saving for Plan 1 in the appropriate table and row in your group's Project Result