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Later in life, Devon convinces her friend Taylor to start saving for retirement as well. Even though Taylor is the same age as Devon, she
Later in life, Devon convinces her friend Taylor to start saving for retirement as well. Even though Taylor is the same age as Devon, she hasn't started saving for retirement yet. With only years left until they both plan to retire, Taylor decides she needs to invest at least twice as much as Devon each month to try to catch up to Devon's retirement plan. Taylor opens a similar retirement account to Devon's that also has an APR compounded monthly. She will invest $ per month. Round answers to two decimal places.
a How much money will be in Taylor's retirement account if she continues to make the same monthly investment for years?
pt
Write complete sentences that identify which person had the higher amount and by how much. Round answers to two decimal places.
a Who had more money in their retirement account when they planned to retire? How much more? pt
b Who contributed more to their retirement account? How much more?
pt
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