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Scott, age 40, is starting his savings plan this year by putting away $2,025.00 at the end of every year until he reaches age 65.
Scott, age 40, is starting his savings plan this year by putting away $2,025.00 at the end of every year until he reaches age 65. He will deposit this money at his local savings and loan at an interest rate of 6%. Jian, age 35, is starting his savings plan this year by putting away $2,025.00 at the end of every year until he reaches age 65. He will deposit this money at his local savings and loan at an interest rate of 6%. The compounding factor is 54.860. The compounding factor is 79.060. Based on the information provided, how much will Scott have when he turns 65 Based on the information provided, how much will Jian have when he turns 65? ian started his investment program five years earlier than Scott and invested a total of $ those extra years. At age 65, how much more will Jian have accumulated than Scott? $
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