Shelley saves $3,000 per year, for ten years, at the end of each year starting at age

Question:

Shelley saves $3,000 per year, for ten years, at the end of each year starting at age 26 and ending at age 35.

She invests the funds in an account earning 10% annually.

Shelley stops investing at age 35, but continues to earn 10% annually until she reaches the age of 65.

In contrast, Kevin saves $3,000 per year at the end of the year between the ages of 36 and 65 inclusively and invests in a similar account to Shelley, earning 10% annually. What is the value of Shelley’s and Kevin's separate accounts at age 65?

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Fundamentals Of Financial Planning

ISBN: 9781936602094

3rd Edition

Authors: Michael A Dalton, Joseph Gillice

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Question Posted: Sep 19, 2024 02:19 PM

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Shelley saves $3,000 per year, for ten years, at the end of each year starting at age

Question:

a. Shelley $710,861 Kevin $387,212 b. $710,861 $493,482 C. $834,296 $387,212 d. $834,296 $493,482

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Fundamentals Of Financial Planning

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