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Ashley began saving $5,000 per year from age 25 to age 35 (ten years) and then...

Ashley began saving $5,000 per year from age 25 to age 35 (ten years) and then invested the funds for another 30 years. Teeto began saving at age 35 and saved $5,000 each year until he retired at age 65 (30 years). Which of the following statements is correct assuming they invested their funds at 7 percent?

Ashley and Teeto will have the same amount of money accumulated at age 65.

Ashley will have 29% more accumulated than Teeto at age 65.

Teeto will have 12% more than Ashley at age 65.

Teeto will have 10% less than Ashley at age 65.
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