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age 21 Julio begins saving $1,250 each year until age 35 (15 payments) in an ordinary annuity paying 5.3% annual interest compounded yearly and then
age 21 Julio begins saving $1,250 each year until age 35 (15 payments) in an ordinary annuity paying 5.3% annual interest compounded yearly and then leaves his money in the account until age 65 (30 years). His friend Max begins at age 41 saving $2,500 per year in the same type of account until age 65 (25 payments). How much does each have in his account at age 65? At in his account and Max has $ in his account. At age 65, Julio has $
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