When both Ben and Arthur turned 65, they decided to compare their investment accounts. Who do you think had more? Ben, with his
total of $16,000 invested over eight years, or Arthur, who invested $78,000 over 39 years? Believe it or not, Ben came out ahead... $700,000 ahead! Arthur had a total of $1,532,166 while Ben had a total of $2,288,996. How did he do it? Starting early is the key. He put in less money but started eight years earlier. That’s compound interest for you! It turns $16,000 into almost $2.3 million! Since Ben invested earlier, the interest kicked in sooner. So How much did each boy make on their investment (write in words, not numbers)? Which strategy is best? Why? (10 points) PLEASE HELP ASAP!!
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