Twins graduate from college together and start their careers Twin 1 invests 2000 at the...

80.2K

Verified Solution

Question

Basic Math

image

Twins graduate from college together and start their careers Twin 1 invests 2000 at the end of each year for 10 years only until age 33 in an account that earns 6 compounded annually Suppose that twin 2 waits until turning 40 to begin Investing How much must twin 2 put aside at the end of each year for the next 25 years in an account that earns 6 compounded annually in order to have the same amount as twin 1 at the end of these 25 years when they turn 65 Round your answer to the nearest cent

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students