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Allison and Leslie, who are twins, just received $ 1 0 , 0 0 0 each for their 2 5 th birthday. They both aspire
Allison and Leslie, who are twins, just received $ each for their th birthday. They both aspire to become millionaires. Each plan to make a $ annual contribution to her "early retirement fund" on her birthday, beginning a year from today. Allison opened an account with the SafetyFirst Bond Fund, a mutual fund that invests in highquality bonds whose investors have earned per year in the past. Leslie invested in the New Issue BioTech Fund, which invests in small, newly issued biotech stocks and whose investors have earned an average of per year in the fund's relatively short history.
If the two women's funds earn the same returns in the future as in the past, how old will each be when she becomes a millionaire?
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