Plan 1: Cora begins a retirement account at age 20. She starts with $2000
and then saves $2000 per year at 7% interest compounded annually for 10
years. Then she stops contributing to the account but keeps her savings
invested at the same rate.
###### Image Credit: Flickr Tax Credits.

Plan 2: Mawiyah doesn't save any money in her twenties. When she turns 30 she starts with $2000 and then saves $2000 per year at 7% interest compounded annually for 35 years.

Which one has more at age 65?

×

Problem Loading...

Note Loading...

Set Loading...