Sandro deposited $1000 in a retirement account at the end of each quarter for 20 years until he reached the age of 55, and then made no further deposits. His wife deposited $1000 in a retirement fund at the end of each quarter for 30 years until she reached the age of 65. Assume that both funds earned 4.65% compounded monthly.

a. Who had more in his/her fund at age 65, and by what amount?

b. Who earned more interest and by what amount?

AppendixLO1