Mr. and Mrs. Valdez are starting a savings account for their daughter . savings accounts at the banks in their area offer rates up to 20% continue continuously compounded. they hope to have $100,000 saved By the time their daughter is 18 years old . is this a realistic goal ? explain why or why not using an interest rate to support your answer.

PLEASE HELP me

A general rule of thumb is to have one times your income saved by age 30, three times by 40, and so on. See chart below. The sooner you start saving for retirement, the longer you’ll have to take advantage of the power of compound interest. Aim to save 5% to 15% of your income for retirement — or start with a percentage that’s manageable for your budget and increase by 1% each year until you reach 15%. The thought of saving a couple million dollars by your 60s or 70s can sound daunting, we know. That’s where breaking up your retirement savings with age-based benchmarks may help. By looking at your savings in 10-year increments, it’s easier to plan financially and put actionable savings steps in place. One popular age-based savings recommendation is that you should aim to save one times your salary by age 30 and increase your savings by your annual salary every five years.

Step-by-step explanation: