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Assume you can earn 5 % per year on your investments. a . If you invest $ 7 0 , 0 0 0 for retirement

Assume you can earn 5% per year on your investments.
a. If you invest $70,000 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 $70,000, how much will you have 25 years later for retirement?
c. Why is the difference so large?
a. If you invest $70,000 for retirement at age 30, how much will you have 35 years later for retirement?
The amount of money you will have 35 years later for retirement is $.(Round to the nearest cent.)
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