Solution-Same amount of money accumulated

Same amount of money accumulated

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Ashley began saving $5000 per year from age 25 to age 30 and then invested the funds fro another 30 years. Teeto began saving at age 35 and saved $5000 each year until retirement at age 65. Which of the following statements is correct assuming they invested their funds at 8%?

A) Ashely and teeth will have the same amount of money accumulated at age 65

b) Ashley will have 29% more accumulated than teeth at age 65

C) Teeto will have 12% less than ashley at age 65

Reference no: EM131041789

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Same amount of money accumulated

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