Assume you can earn $12\%$ per year on your investments.

a$.$ If you invest $$$$60,000$ for retirement at age$30,$ how much will you have $35$ years later for$$ retirement?

b$.$ If you wait until age $40$ to invest the $$$$60,000,$ how much will you have $25$ years later for$$ retirement?

c$.$ Why is the difference so$$ large?

$*$ for a and b use the formula FVn$=$C x $(1+$r$)^$n