You want to compare two separate retirement savings scenarios: (A) and (B). In scenario (A) you start immediately, contribute for a few years, but then stop contributing. However, you leave the accumulated savings to compound until retirement. In scenario(B) you start later (after the end of savings in scenario A) and contribute all the way to retirement. Calculate the accumulated amount of savings at retirement for the two scenarios.

Scenario Annual Payment Payment Period Total Number of Payments Length of Investment Interest Rate (A) $7000 End of years 1 to 13 13 35 years 17 % (B) $7,000 End of years 14 to 35 22 35 years 17 %

Scenario Accumulated Amount of Savings at Retirement (Future Value) (A) $nothing    (Round to the nearest cent.) (B)$nothing   (Round to the nearest cent.)

Answer rating: 100% (QA)

Explanation Consider the following Scenario A Money ... View the full answer