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Tyler and Katy Glover are twins, and both work at the Texas Department of Motor Vehicles. They know they need to save for retirement from

Tyler and Katy Glover are twins, and both work at the Texas Department of Motor Vehicles. They know they need to save for retirement from what they learned from their parents. Retirement is 38 years away, which seems like forever to them. Since they were looking at doing the same investments as twins tend to do, they believe they could get 11.98% annual return on the S&P 500 Index based on its history. Tyler invests $6,000 per year, but after ten years is married and has twins! He completely stops saving for retirement.
Katy is a bit of a spend thrift, but realizes she will won't to retire in 28 years and knows she wasted time spending money on things that eventually she took to Goodwill! Katy saves $7,200 per year.
How much will each have when they retire? Round to nearest dollar.
A. Tyler $1,899,555 Katy: $2,156,999
B. Tyler $2,200,121 Katy: $1,485,123
C. Tyler $1,985,122 Katy: $1,368,164
D. Tyler $2,499,386 Katy: $1,368,164
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