Assume you can earn 8% per year on your investments. a. If you invest $50,000 for retirement at age 30 , how much will you have 35 years later for retirement? b. If you wait untli age 40 to invest the $50,000, how much will you have 25 years later for retirement? c. Why is the difference so large? a. If you invest $50,000 for retirement at age 30 , how much will you have 35 years later for retirement? The amount of monoy you will have 35 years later for retirement is \$ (Round to the nearest cont.) b. If you wait until age 40 to invest the $50,000, how much will you have 25 years later for retirement? The amount of money you will have 2.5 years later for retirement is $ (Round to the nearest cent.) c. Why is the difference so large? The difference is large because the compounding effect is accentuated the the time of investment. (Select from the drop-down menu.)