Nadine Invests $1,000 at 8% When She Is 25 Years

Multiple Choice

Nadine invests $1,000 at 8% when she is 25 years old. Neal invests $1,000 at 8% when he is 40 years old. Both investments compound interest annually. Both Nadine and Neal retire at age 60. Which one of the following statements is correct?

A) Nadine will have less money when she retires than Neal.
B) Neal will earn more interest on interest than Nadine.
C) Neal will earn more compound interest than Nadine.
D) If Neal waits to age 70 to retire, then he will have just as much money as Nadine.
E) Nadine will have more money when she retires than Neal.