Mr. Early and Mr. Late are born in the same year and plan to retire at...
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Mr. Early and Mr. Late are born in the same year and plan to retire at 65 years old. Starting from age 20, Mr. Early saves $1000 a month until he is 30 and then $2000 a month until he is 40. After that, he never saves again. Starting from age 30, Mr. Late saves $2000 a month until retirement. Assume there is a 6% annualized return (or 0.50% monthly return) on investment. What is the balance of the retirement portfolio for Mr. Early at retirement? (Round to the nearest dollars, do not add a $ sign, enter only numeric answers, no commas). A What is the balance of the retirement portfolio for Mr. Late at retirement? (Round to the nearest dollars, do not add a $ sign, enter only numeric answers, no commas). Mr. Early and Mr. Late are born in the same year and plan to retire at 65 years old. Starting from age 20, Mr. Early saves $1000 a month until he is 30 and then $2000 a month until he is 40. After that, he never saves again. Starting from age 30, Mr. Late saves $2000 a month until retirement. Assume there is a 6% annualized return (or 0.50% monthly return) on investment. What is the balance of the retirement portfolio for Mr. Early at retirement? (Round to the nearest dollars, do not add a $ sign, enter only numeric answers, no commas). A What is the balance of the retirement portfolio for Mr. Late at retirement? (Round to the nearest dollars, do not add a $ sign, enter only numeric answers, no commas).
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