Eleanor makes year-end deposits of P500 the first year, P550 the second year, P605 the third year, and so on, increasing the next year's deposit by 10% of the deposit in the preceding year until the end of the tenth year. Ronald makes equal year-end deposits of P700 each year for 10 years. If interest on both funds is 12% compounded annually, who will be able to save more at the end of the 10 years?