Question

Paul just turned 17, but he's already thinking about his retirement. In

fact, he would like to retire at the age of 52. Currently he spends about
$200 a month on entertainment. If he saved $150 of that budgeted
entertainment money every month for retirement until he reaches the
age of 52, how much more would he be able to contribute to his
retirement savings?

Answer 1

Answer: he will contribute: $63,000

Explanation:

150 * 12 months= $1,800

52-17= 35 years savings.

35 * $1,800= $63,000