Scott and Todd are twins. Scott invests $50 a month for ten years starting on his 20th birthday. Todd invests $50 a month for ten years starting on his 25th birthday. Both Scott and Todd earn 7 percent. Which one of the following statements is correct based on this information? Assume they never withdraw any money from their accounts.

A.Both Scott and Todd will have the same amount saved when they turn 60 if the 7 percent is simple interest.

B.Scott and Todd will earn the same amount of interest during the year of their 40th birthday if the 7 percent is simple interest.

C.Todd will have more money saved than Scott when they are 70 years old if the 7 percent is compounded annually.

D.Scott and Todd will earn the same amount of interest during the year of their 50th birthday if the 7 percent is compounded annually.

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