CH3.8. Future Value of Annuity. Twins Jacinta and Juan graduated from college and started working in the family restaurant business at age 25. Each sibling decided upon a different course of action for their respective retirement plans. Assuming each plan earned 10% and both siblings retired at age 65, calculate the earnings each plan generated. Jacinta began immediately to put $3,500 per year in an individual retirement account and contributed to it for a total of 10 years. After 10 years, she made no further contributions into the account.

Juan did not open an individual retirement account until he was 35. Juan