Posted by **Dantavis** on Wednesday, April 14, 2010 at 9:58am.

8. Assume you just turned 28. You want to accumulate $3.5 million by your 65th birthday. Beginning next year, you will invest equal amounts each year until your 60th birthday. Your twin brother has the same goal, but he will wait 4 years before making his first payment. Assume he also will make equal payments into the same mutual fund until his 60th birthday. If both accounts earn a 12.5% annual rate of return, how much more will your brother have to invest each year (relative to you) in order to have the same $3.5 Million at age 65?

## Answer This Question

## Related Questions

- finance - You want to accumulate $1,000,000 in retirement funds by your 65th ...
- Math - Starting on her 21st birthday and continuing on every birthday up to and...
- Math - your aunt gives you a check on your birthday each year. on your first ...
- corporate finance - 1)You have just turned 30 years old, have just received your...
- Finance - Steve and Ed are cousins who were both born on the same day, and both ...
- Economics - A 20-year-old student decided to set aside $100 on his 21st birthday...
- engineering ecnonmics - A 20-year-old student decided to set aside $100 on his ...
- math - A 20-year-old student decided to set aside $100 on his 21st birthday for ...
- Economics - A 20-year-old student decided to set aside $100 on his 21st birthday...
- Economics - A 20-year-old student decided to set aside $100 on his 21st birthday...

More Related Questions