Two friends, Scott and Veda, are planning for their retirement. Both are 20 years old and plan

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Two friends, Scott and Veda, are planning for their retirement. Both are 20 years old and plan on retiring in 40 years with $1,144,100 each. Veda plans on making annual deposits beginning in one year (total of 40 deposits) while Scott plans on waiting and then depositing twice as much as Veda's deposits.

If both can earn 4 percent per year, how long can Scott wait before he has to start making his deposits?

Posted Date: May 19, 2024 05:14 PM

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Two friends, Scott and Veda, are planning for their retirement. Both are 20 years old and plan

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