Jacqueline Strauss a 25- year- old personal loan officer at Second National Bank

Jacqueline Strauss a 25- year- old personal loan officer at Second National Bank under-stands the importance of starting early when it comes to saving for retirement. She has committed $ 3000 per year for her retirement fund and assumes that shell retire at age 65. a. How much will she have accumulated when she turns 65 if she invests in equities and earns 8 percent on average? b. Jacqueline is urging her friend Mike Goodman to start his plan right away too because hes 35. What would his nest egg amount to if he invested in the same manner as Jacqueline and he too retires at age 65?