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Who will end up with larger retirement account at given age

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Reference no: EM131556420

Question: INVESTMENT ANALYSIS Karen has been depositing $150 at the end of each month in a tax-free retirement account since she was 25. Matt, who is the same age as Karen, started depositing $250 at the end of each month in a taxfree retirement account when he was 35. Assuming that both accounts have been and will be earning interest at the rate of 5%/year compounded monthly, who will end up with the larger retirement account at the age of 65?

Reference no: EM131556420

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