Effect of compounding Quintin is now 22 years old and has just started a new job. He is trying to decide whether to start investing for retirement now or to wait several years. Verify that investing a 10% return per year yields approximately the same total accumulation at age 52 for Quintin under the following alternatives:

(a) Invest $3 per year for 30 years, beginning now.

(b) Invest $5 per year for 25 years, beginning at age 27.

(c) Invest $80 per year for 5 years, beginning at age 47.

(LO 1)