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Twins graduate from college together and start their careers. Twin 1 invests $1500 at the end of each year for 10 years only (until age
Twins graduate from college together and start their careers. Twin 1 invests $1500 at the end of each year for 10 years only (until age 31 ) in an account that earns 9%, compounded annually. Suppose that twin 2 waits until turning 40 to begin investing. How much must twin 2 put aside at the end of each year for the next 25 years in an account that earns 9% compounded annually in order to have the same amount as twin 1 at the end of these 25 years (when they turn 65)? (Round your answer to the nearest cent.) $x [0/0.23 Points] HARMATHAP12 6.3.014. (a) Patty Stacey deposits $2600 at the end of each of 5 years in an IRA. If she leaves the money that has accumulated in the IRA account for 25 additional years, how much is in her account at the end of the 30 -year period? Assume an interest rate of 11%, compounded annually. (Round your answer to the nearest cent.) $ x (b) Suppose that Patty's husband delays starting an IRA for the first 10 years he works but then makes $2600 deposits at the end of each of the next 15 years. If the interest rate is 11%, compounded annually, and if he leaves the money in his account for 5 additional years, how much will be in his account at the end of the 30 -year period? (Round vour answer to the nearest cent.) $ (c) Does Patty or her husband have more IRA money? Patty Patty's husband
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