Calculate the future value of each investment

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An investor invests $2,000 per year at the end of each year, with the first deposit at age 20 and the last deposit at age 30. Assume an interest rate of 10% per annum compounded annually. No more deposits are made after age 30 and the investor accesses the money at age 60. Another investor begins investing at age 30 and invests $2,000 per year at the end of each year, with the last deposit at age 60. Assume an interest rate of 10% per annum compounded annually. (a) How much does each investor deposit? (b) Calculate the future value (FV) of each investment. (c) Who has the larger amount of money at age 60? Why is it important to start investing at.

Reference no: EM131527811

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