Business, 16.11.2020 17:30 aletadaboss

Melvin begins his retirement fund at age 30,depositing $1,000 per month until age 50.Cindy begins her retirement fund at age 20,depositing the same $1,000 per month amount until age 50.Both Melvin and Cindy earn 5 percent annual interest on their funds, and there are no tax considerations in this problem. Based on the provided information:. A) and assuming they retire at age 50,Cindy will have exactly 50 percent more than Melvin.
B) and assuming they retire at age 50,Cindy will have over 50 percent more than Melvin.
C) and assuming they retire at age 50,Cindy will have less than 50 percent more than Melvin.
D) and assuming they both retire at age 60,Cindy will have less than Melvin.
E) the difference between the two will get larger with higher inflation.

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Melvin begins his retirement fund at age 30,depositing $1,000 per month until age 50.Cindy begins he...

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