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Monica and her friend Linda each believe they have a superior savings plan. Monica saved $4,500 at the end of each year for 15 years and then let her money grow for 30 years. Linda did not begin saving until 15 years later, at which time she began to save $4,500 at the end of each year for 30 years. They both earned 6% on their investments and are 65 years old today and ready to retire. Which of the following statements is correct?
A. Both strategies are equal as they have equal account balances today.B. Monica's strategy is better because she has a greater account balance today.C. Linda's strategy is better because she has a greater account balance today.D. Neither strategy is better because Linda has a greater account balance, but Monica contributed less.
Susan Lee who is 26 years-old has new job with Inspiron. She is planning to start her own business in eight years so she has two options to start saving money to open her shop:Please show the computation for each of option and describe which of th..
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