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You plan to retire in 20 years. Use the time value of money tables to calculate whether it is better for you to save $25,000

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You plan to retire in 20 years. Use the time value of money tables to calculate whether it is better for you to save $25,000 a year for the last 10 years before retirement or $16,400 for each of the 20 years. Assume you are able to earn 9 percent interest on your investments. (Future Value of $1, Present Value of $1. Future Value Annuity of $1, Present Value Annuity of $1 )

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