A small business owner contributes $3,000 at the end of each quarter to a retirement account that earns 10% compounded quarterly. (a) How long will it be until the account is worth $150,000? (b) Suppose when the account reaches $150,000, the business owner increases the contributions to $5,000 at the end of each quarter. What will the total value of the account be after 15 more years?

You currently have a balance of $200,000 in your retirement account. You expect to contribute $7,50o to your retirement account at the end of each year for the next 30 years and your employer will match your contributions; thus, the annual end- of-year contributions to your retirement account will be $15,000. If you earn 8% on your retirement account, how much money will you have in your account when you retire in 30 years? You have a 4-year-old daughter and want to have $120,000 in her college fund when she starts college. You expect to earn a 7% return on her college-fund investments. If you want to make 14 equal-sized end-of-year deposits into your daughter's college fund, how much do you need to deposit each year to have $120,000 when she starts college? $ %24 %24

Suppose you want to have $700,000 for retirement in 20 years. Your account earns 6% interest. How much would you need to deposit in the account each month?