Starting at age 35, Aqeela invested $400 into an RRSP at the end of every month until her 45th birthday and left the fund to grow under compound interest until her 65th birthday. Starting at age 50, Gerard deposited $800 into a similar fund at the end of each month until his 65th birthday. Assume that both funds earned 6.4% compounded semi-annually.

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

b. Who earned more interest and by what amount?

AppendixLO1