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8. Alicia and Zeno are the same age. At age 20, Alicia begins depositing $100 per month into an account with an APR of 9%
8. Alicia and Zeno are the same age. At age 20, Alicia begins depositing $100 per month into an account with an APR of 9% with monthly compounding. After 10 years she is no longer able to make monthly deposits, but she leaves the balance in the account for the next 30 years (with the same APR). At age 30, Zeno begins depositing $100 per month into an account with an APR of 9% with monthly compounding. a. At age 60, what is the balance in the accounts of Alicia and Zeno? b. Of their respective balances, what percentage of the balance is due to deposits and what percentage of the balance is due to interest? c. What is the moral of this story
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