Invest Now or Later? Twins Natalie and Kaitlyn are both age 29. They both live...
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Invest Now or Later?
Twins Natalie and Kaitlyn are both age 29. They both live in Warren, Ohio. Beginning at age 29, Natalie invests $8,000 per year for ten years and then never sets aside another penny. Kaitlyn waits ten years and then invests $8,000 per year for the next 30 years. Assume they both earn 7 percent. Round your answers to the nearest dollar. (Hint: Use Appendix A-1 and Appendix A-3 or visit the Garman/Forgue companion website.) Round Future Value of a series of Equal Amounts and Future Value of a Single Amount in intermediate calculations to four decimal places.
How much will Natalie have at age 69?
$
How much will Kaitlyn have at age 69?
$
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