Question

Kathy and Mark Smith believe investing in retirement is critical. Kathy begin investing 20% of each paycheck in a retirement account when she was 20 years old. She has saved four times more than mark who begin saving when he was 25 if there total retirement savings equals 1,450,000 how much are Kathy’s and Mark’s investments worth

Answer 1

Kathy’s retirement savings is $11,60,000

Mark’s retirement savings is   $2,90,000

Total retirement savings amount is $1,450,000

Kathy’s investment is 4 times more than Mark

Calculation of future value at the end of 6 years:

Particulars                                                                 Values

Total retirement savings                                           $1450000

Mark investment (times)                                                1

Number of times kathy's investment is more       B3x4              =  4

Total                                                                       B34 = B3+B4 = 5

Kathy's retirement savings                                  (B2*B4)/B5     = $11,60,000

Mark's retirement savings                                      B7/B4           = $2,90,000

What is investment ?

Investing is holding assets with the goal of achieving value over a period of time. Investing requires the sacrifice of some current asset, such as time, money, or effort. The purpose of financial investments is to obtain income from the invested property. Investments typically fall into three main categories: stocks, bonds, and cash. Each group has many different rankings. Here are six types of investments you can consider for long-term growth, and what you should know about each

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