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Lissy and Mo are best friends. Each has 45 years to retirement. Lissy will save $1,000 per year for the first 15 years and then
Lissy and Mo are best friends. Each has 45 years to retirement. Lissy will save $1,000 per year for the first 15 years and then save nothing for the lost 30 years. Mo will save nothing for the first 7 years and then save $10,000 per year for the next 38 years. Both strategies will have an annual return of 8.0% Who will have more money at retirement and how much more will they have? Multiple Choice Mo will have $270,63137 more at retirement Lissy will have $270,631.37 more at retirement O Lissy will have $837,047.32 more at retirement O Mo will have $837,047.32 more at retirement
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