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How much will each of them have when they? retire

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Question - Selma and Patty Bouvier are twins and both work at the Springfield DMV. Selma and Patty Bouvier decide to save for? retirement, which is 35 years away. ? They'll both receive an annual return of 8 percent on their investment over the next 35 years. Selma invests $1,600 per year at the end of each year only for the first 10 years of the? 35-year period-for a total of $16,000 saved. Patty?doesn't start saving for 10 years and then saves $1,600 per year at the end of each year for the remaining 25 years-for a total of $40,000 saved. How much will each of them have when they? retire?

Reference no: EM133148746

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