Calculate the accumulated amount of savings

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Question:

You want to compare two separate retirement savings? scenarios: (A) and? (B). In scenario? (A) you start? immediately, contribute for a few? years, but then stop contributing.? However, you leave the accumulated savings to compound until retirement. In scenario? (B) you start later? (after the end of savings in scenario? A) and contribute all the way to retirement. Calculate the accumulated amount of savings at retirement for the two scenarios.

Scenario // Annual Payment // Payment Period // Total Number of Payments // Length of Investment // Interest // Rate

?(A) $8,000 // End of years 1 to 13 // 13 // 34 years // 9?%

?(B) ?$8,000 // End of years 14 to 34 // 21 // 34 years // 9?%

Reference no: EM132594299

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