Question 1

Twins Barbara and Mary are both age 22. Beginning at age 22, Barbara invest $2000 a year for eight years and then never sets aside another penny. Mary waits 10 years and then invests $2000 a year for the next 30 years.

Assuming they both earn 8 percent, how much will each twin have at age 65? (Hint: Use Appendixes A.1 and A.3, or use the calculator. )


   

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