Scenario A: at Age 19 You Invest $1,500 That Earns

Multiple Choice

Scenario A: At age 19 you invest $1,500 that earns 8% per year. Scenario B: At age 30 you invest $1,500 that earns 13% per year. Under which scenario would you have more money at age 55 and what is the dollar difference at age 55 between the two scenarios?

A) Scenario A; $1,085.49
B) Scenario A; $2,104.73
C) Scenario B; $4,179.36
D) Scenario B; $7,893.55