This study reports two mental multiplication experiments that were designed to measure age differences in central and peripheral processes. Experiment 1 varied task type (verification vs production), and Experiment 2 varied exposure duration (presentation until response, 600 ms, and 300 ms) on a production task. Neither experiment showed evidence of age differences in central processes (e.g., retrieval speed); however, there was some evidence of a peripheral-process (e.g., encoding) decrement for older adults. Specifically, there were no Age x Problem Size interactions for either experiment. Experiment 2 revealed decreasing age differences as problem difficulty increased. Indeed, for the 300-ms exposure duration, there were no age differences in RT or error rate. These results suggest that the magnitude of age differences in central processing speed are significantly less extreme than are age differences for peripheral processing speed for this type of mental arithmetic task. Also, older adults, in general, may have a higher skill level for basic fact retrieval in mental arithmetic than do young adults.