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5. Consider three investment plans (at an annual interest rate of 8%) for an individual who just celebrated her 24th birthday: Plan A - Invest

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5. Consider three investment plans (at an annual interest rate of 8%) for an individual who just celebrated her 24th birthday: Plan A - Invest $2,000 per year for the first 10 years of her career. At the end of 10 years, she makes no further investments, but reinvests the amount accumulated at the end of 10 years for the next 31 years. Plan B - Do nothing for the first 10 years. Then start investing $2,000 per year for the next 31 years. Plan C - Invest $2,000 per year for the entire 41 years. How much would each plan be worth by the end of the period? Note that all investments are made at the birthday of each year, the first deposit will be made on the 25th birthday (n = 1), and you want to calculate the balance on the 65th birthday (n = 41)

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