Bruce and Sharon are at the same age. They both had pension plans with their places of employment. Sharon started contributing $2500 at the end of each year at the age 25. Bruce did not start making regular contributions until age 40, but at that point he contributed $6500 per year. Sharon's plan earned and annual rate of 4.55% compounded quarterly whereas Bruce's plan earned an annual rate of 4.85% compounded semi-annually.

a) What were the values of each plan when Bruce and Sharon are both 65 years old?

b) How much did Bruce and Sharon contribute to their respective plans?

c)How much interest did each of the earn?

d) Compare their rates of return.