1) You invest $4,123 at the beginning of every year and your friend invests $4,123 at the end of every year. If you both earn an annual rate of return of 15.00%.

a) how much will you have in your account after 16 years?

b) How much will your friend have in his account?

Q2) You currently have $3,163 in a retirement savings account that earns an annual return of 12.00%. You want to retire in 44 years with $1,000,000. How much more do you need to save at the end of every year to reach your retirement goal?