At Age 20 You Invest $1,000 That Earns 7 Percent

Multiple Choice

At age 20 you invest $1,000 that earns 7 percent each year. At age 30 you invest $1,000 that earns 10 percent per year. In which case would you have more money at age 60?

A) At age 20 invest $1,000 at 7 percent.
B) At age 30 invest $1,000 at 10 percent.
C) Both yield the same amount at age 60.
D) There is not enough information to determine which case earns the most money at age 60.