Create a chart using excel summarizing the details of the investments for both Larry and Beth
Write a one paragraph summary in which you explain the results in terms of the time value of money for both
Larry and beth are married working adults. They both plan retirement and consider 6000 annual contribution a must
First consider Beth’s savings. She began working at age 20 began annual contribution to ira of 6000 each year until age 32 12 contributions .
she then left fulltime work to have children and be stay at home mom she left ira invested and plans to begin drawing at at age 65 from ira
Larry started contribuiting to his ira at age 32 in the first 12years of his working career he used his discretionary income to buy a home family cars take vacations and pursue his golfing hobby.at age 32 he made his first 6000 contribution to an ira and contributed 6000 every year up until age 65 33 contributions he plans to retire at age 65 and make withdrawals from his ira
Both ira accounts grow at an 8percent annual rate
