Joe & Moe, both 65, just retired and each received a check from their Retirement Plan. Joe & Moe both have been contributing $ 5,000 each year in their retirement plans since the age of 25. Retirement portfolio of Joe and Moe has been exactly the same with one difference. Joe started contributing at the beginning of each year and Moe at the end of each both year. The average annualized returns both portfolios has been exactly the same, 5% py. Joe is retirement check is greater than Moes by:

A. $781

B. $20,983

C. $98,775

D. $5,250