Saving for retirement future value of an annuity Selma and

Last updated: 6/28/2023

Saving for retirement future value of an annuity Selma and Patty Bouvier are twins and both work at the Springfield DMV Selma and Patty Bouvier decide to save for retirement which is 35 years away They ll both receive an annual return of 7 percent on the nvestment over the next 35 years Selma invests 2 000 per year at the end of each year only for the first 10 years of the 35 year period for a total of 20 000 saved Patty doesn t start saving for 10 years and then saves 2 000 per year at the end of each year for remaining 25 years for a total of 50 000 saved How much will each of them have when they retire a How much will Selma have when she retires Round to the nearest cent b How much will Patty have when she retires Round to the nearest cent This question 2 point s possible REED