Mr. Jones and Mr. Smith both plan to retire in 5 years. Mr. Jones has invested $250 per month in a 401k retirement account for 20 years, and Mr. Smith has invested $500 a month
in a 401k retirement account for 10 years. Mr. Jones and Mr. Smith invested in the same
accounts yielding the same interest rate. Which statement about the retirement investments
of Mr. Jones and Mr. Smith is most likely to be true?
Mr. Smith will have more money saved because he invested more money each month.
Mr. Smith and Mr. Jones will have the same amount in their retirement funds.
Mr. Jones will have more money because he invested for a longer period of time.
cannot determine