"Time Value of Money and Annuity"

•Describe one (1) real-life example that shows the manner in which a person can use an annuity for retirement planning.

•Watch the video titled “The Time Value of Money” (3 min 0 s) from the Teach Me Finance Website, located at http://teachmefinance.com/timevalueofmoney.html, to learn how to calculate the present and future value of money.  Create a personal scenario that exemplifies the time value of money that includes the opportunity cost involved.