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Bruce and Sharon are the same age and both had pension plans with their place of employment. Sharon started contributing $2500 per year at age
Bruce and Sharon are the same age and both had pension plans with their place of employment. Sharon started contributing $2500 per year at age 25. Bruce did not start making regular contributions until age 40, but at that point contributed $6500 per year. Sharon's plan earned an annual rate of 4.55% compounded quarterly whereas Bruce's plan paid an annual rate of 4.85% compounded semi-annually. what was the value of each plan when each is 65 years old? How much interest did each earn?
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