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)?
$39,500.23.

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)?
$28,301.40.

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)?

$19,938.10.

4. If you put $5000 into a regular savings account in the bank when you are 30 years old, and add $500 each month, how much will you have when you are 68 years old (50 years later)?

$283,013.98

5. If you put $5000 into a regular savings account in the bank when you are 40 years old, and add $500 each month, how much will you have when you are 68 years old (28 years later)?

$199,381.03

 

6. 1. If you put $500 into a regular savings account in the bank when you are 18 years old, and add $500 each month, how much will you have when you are 78 years old (60 years later)?

$490,926.37

This makes me think that the more you save each month and the more the money is compounded, you'll be able to end up with a lot of money in your bank account.