The interest rate in both cases

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When Mahdi's youngest sister was born his parents started saving $1000 per year and continue until she beomes 10 years old (total 10 years). Then they stop and keep the money on the account for the next 25 years.

Mahdi's son starts his saving $1000 when he becomes 10 years old and continues saving $1000/year until the next 25 years (total 25 years). Compare the amounts when they become 35 years old. What can you recommand ?

The interest rate in both cases is 6% per year.

Reference no: EM13797188

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