At age 25 you invest $2,000 that earns 6 percent each year. At age 35 you invest $2,000 that earns 9 percent per year. In which case would you have more money at age 60?
A) At age 25 invest $2,000 at 6 percent.
B) At age 35 invest $2,000 at 9 percent.
C) Both yield the same amount at age 60.
D) There is not enough information to determine which case earns the most money at age 60.

Question

Quizplus · Accepted Answer

The Answer of At age 25 you invest $2,000 that earns 6 percent each year. At age 35 you invest $2,000 that earns 9 percent per year. In which case would you have more money at age 60?
A) At age 25 invest $2,000 at 6 percent.
B) At age 35 invest $2,000 at 9 percent.
C) Both yield the same amount at age 60.
D) There is not enough information to determine which case earns the most money at age 60.

At Age 25 You Invest $2,000 That Earns 6 Percent