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When she was 20, Liz started saving $6,000 a year for retirement. Her goal is to reach $100,000 in savings by the time she's 30. Her account earns 8% interest per year, compounded annually.

Liz have saved $100,000 by age 30. She'll her goal by about.

Find below correct question:

When she was 20, liz started saving $6,000 a year for retirement. her goal is to reach & 100,00 in savings by the time she's 30. her account earns 8% interest per year, compounded annually. liz (will / won't) have saved $100,000 by age 30. she'll (exceed / fall short of) her goal by about ($10,081 / $13,081 / $14,011)

liz won't have saved $100,000 by age 30. she'll fall short of her goal by about $13,081

Step-by-step explanation:

First and foremost we need to know the worth of Liz's retirement savings when she is 30 using excel fv formula as follows:

=fv (rate, nper,-pmt, pv)

rate is the interest earned per year which is 8%

nper is the duration of savings which is 10 years

pmt is the amount of yearly savings which is $6,000

pv is the present worth of total savings which is not known

=fv (8%,10,-6000,0) = $86,919.37

Hence, Liz would be not be able to reach $100,000 at age 30.

Shortfall=$100,000-$86,919.37 = $ 13,080.63