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At age 21 Julio begins saving $1,250 each year until age 35 ( 15 payments) in an ordinary annuity paying 5.3% annual interest compounded yearly
At age 21 Julio begins saving $1,250 each year until age 35 ( 15 payments) in an ordinary annuity paying 5.3% annual interest compounded yearly and then leaves his money in the account until age 65 ( 30 years). His friend Max begins a age 41 saving $2,500 per year in the same type of account until age 65 (25 payments). How much does each have in his account at age 65 ? At age 65 , Julio has $ in his account and Max has $ in his account. (Round to the nearest cent as needed.)
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