Calculate two individuals total amount of retirement assets after 30 years of investing using the following two examples to display and articulate the effect of compounded fees on two different individuals' retirement accounts with the exact same mutual funds. The two mutual funds have the same before expense rate of return, but one mutual fund charges a higher expense ratio than the other. Describe what effect fees have on the two different individuals' retirement assets:

(a) Yearly Savings: $15,000, Inflation Rate: 2%, Rate of Return:(8.15%-.15%=8%), Expense Ratio of Mutual Fund: .15%, Periods: 30 years

(b) Yearly Savings: $15,000, Inflation Rate: 2%, Rate of Return:(8.15%-.65%=7.50%) (It is lower than example (a) due to the increased expense ratio), Expense Ratio of Mutual Fund: .65%, Periods: 30 years