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Which choices will result in a greater future value

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You will retire when you are 65. Which of the following choices will result in a greater future value at age 65?

  1. Choice number 1 is to invest $3,000 per year from ages 20 through 26 (a total of seven investments) into an account and then leave it untouched until you are 65 (another 39 years).
  2. Choice number 2 is to begin at age 27 and make $3,000 deposits into an investment account every year until you are 65 years old (a total of 39 investments).
  3. Each account earns an average of 10% per year. (The investments are end-of-year payments.)

Reference no: EM132490451

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