Define the future value, At age 35 you invest $1,600 that

Define the future value

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Reference no: EM131553338

Future Value At age 25 you invest $1,600 that earns 8.5 percent each year. At age 35 you invest $1,600 that earns 11.5 percent per year. In which case would you have more money at age 60?

At age 25 invest $1,600 at 8.5 percent.

At age 35 invest $1,600 at 11.5 percent.

Both yield the same amount at age 60.

There is not enough information to determine which case earns the most money at age 60.

Reference no: EM131553338

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