gina started saving for retirement a decade earlier than rick. as a result, she was able to put less money…

gina started saving for retirement a decade earlier than rick. as a result, she was able to put less money into her retirement account and have more money. which sentence best explains how this is possible? a. ginas savings earned compound interest for more years. b. ginas contributions were tax - deferred. c. gina had a better - paying job than rick. d. gina invested a greater percentage of her income than rick.

gina started saving for retirement a decade earlier than rick. as a result, she was able to put less money into her retirement account and have more money. which sentence best explains how this is possible? a. ginas savings earned compound interest for more years. b. ginas contributions were tax - deferred. c. gina had a better - paying job than rick. d. gina invested a greater percentage of her income than rick.

Answer

Brief Explanations:

Compound interest allows money to grow exponentially over time. Since Gina started saving a decade earlier, her money had more time to earn compound interest, meaning she could end up with more money even if she contributed less overall. Tax - deferral, job pay, and investment percentage don't directly explain how starting earlier leads to having more with less contribution.

Answer:

A. Gina's savings earned compound interest for more years.