6. Calculate the future values for Dawn and Dave's investments. a. Dawn invests $2000 each...
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6. Calculate the future values for Dawn and Dave's investments. a. Dawn invests $2000 each year of 10 consecutive years, starting at age 25. Assume an 8% annual rate of return with annual compounding. After age 35 she no longer adds to the account, but the money continues to compound. What was Dawn's out-of-pocket amount? How much will Dawn have accumulated by age 65? b. Dave invests $2000 each year for 30 consecutive years, starting at age 35. Assume the same 8% annual rate of return with annual compounding. What was Dave's out-of-pocket amount? How much will Dave have accumulated by age 65? c. Who contributed the most out-of-pocket? Who made the most money
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