Question:

Person A who is 20 years old, gives $6000 to their stock

Last updated: 7/19/2022

Person A who is 20 years old, gives $6000 to their stock

Person A who is 20 years old, gives $6000 to their stock fund and continues to do so for the next 10 years. Person B started contributing $6000 to the same stock and continues until he is 65. Person B invested a total of $210,000 and person A only contributed $60,000. At age 65, which of the 2 people had the most money assuming they earned an average rate of return equal to 7% (by how much??) Use Future value= P{(1+r)^t -1}