Connor and Pete work for the same company and have the same retirement goal. Both will...

Connor and Pete work for the same company and have the same retirement goal. Both will retire at age 65 and plan to withdraw $1,200 per month from their retirement account until they reach 80 years old. The company’s retirement plan compounds monthly at a 4% interest rate. Pete started contributing monthly payments at age 25, whereas Connor didn’t start contributing monthly payments until age 45. To do: Write a brief report below comparing Connor and Pete investments. Make sure to include the amount each person needs to contribute each month to reach their goal, as well as how much (as a percent) of each person’s account is interest at the time of retirement. Show your calculations and make some observations about contributing towards your own retirement.

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SOLVED WITH BA II PLUS CALCULATOR

jeff jeffy answered 1 year ago

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