Do the Math 5-1

Invest Now or Later? Twins Natalie and Kaitlyn are both age 23. They both live in Warren, Ohio. Beginning at age 23, Natalie invests $7,000 per year for ten years and then never sets aside another penny. Kaitlyn waits ten years and then invests $7,000 per year for the next 30 years. Assume they both earn 7 percent. Round your answers to the nearest dollar. (Hint: Use Appendix A.1 and Appendix A.3 or visit the Garman/Forgue companion website.) Round Future value of a series of Equal Amounts and Future value of a Single Amount in intermediate calculations to four decimal places.

How much will Natalie have at age 63? $

How much will Kaitlyn have at age 63? $