Annual contributions of $2,500 will be made to a TFSA for 20 years. The contributor expects investments within the plan to earn 6.4% compounded annually. What will the TFSA be worth after 20 years if the contributions are made:

a. At the end of each year? (Round your answer to 2 decimal places.)

TFSA's worth $ ?

b. At the beginning of each year? (Round your answer to 2 decimal places.)

TFSA's worth $ ?

c. By what percentage does the answer to Part (b) exceed the answer to Part (a)? (Do not round intermediate calculations and round your final percentage answer to 1 decimal place.) Percent difference % ?