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Hi if you could solve both and show any equations thank you :)) Kim is diligent and, starting on her 18 th birthday, she saves
Hi if you could solve both and show any equations thank you :))
Kim is diligent and, starting on her 18 th birthday, she saves $1050 and continues her annual savings (on her birthdays) until her 25th birthday. After the deposit on her 25th birthday she stops her annual deposits but leaves her accumulated savings in the bank. Kylie doesn't start saving until she is 26 , at which time she starts saving $1050 a year. She saves annually up to (and including) her 65 th birthday. How much more or less does Kim have compared to Kylie at age 65 ( FVKim minus FVKylie )? Assume an interest rate of 11% for both women. Round your answer to the nearest whole number (no decimals). If Kim has less than Kylie, be sure to enter the negative sign. Answer: 279442(198500)Step by Step Solution
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