Assume you can earn

9.6 %

per year on your investments.

a. If you invest

$ 160 comma 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

$ 160 comma 000

,

how much will you have

25

years later for retirement?

c. Why is the difference so large?

a. If you invest

$ 160 comma 000

for retirement at age 30, how much will you have

35

years later for retirement?