Name Score 3. Jennifer and Juan graduated from UGA and landed a job in the same company with a starting salary of $60,000 per year. They all decided to start a 401K investment plan at $500 every month. Juan bought a new house in the suburbs for $350,000. Because of outstanding collections on his credit, he was given a loan of 6% per year compounded monthly for 30 years. He also bought a brand-new BMW at $35,000 at the same interest rate compounded monthly for 60 months. Juan plans to renew his car every five years with the same deal. That is, he will have the same monthly car payment for the next 30 years. Jennifer however decided to buy at smaller house for $200,000, got a home mortgage loan of 3% compounded monthly due to her excellent credit. She also bought a Honda Accord for $25,000 with 3% per year financing for 60 months. She also plans to renew her car and pay the same monthly payment for the next 30 years. Jennifer decided to top up her monthly 401K investment with the difference between her home and car monthly payments and that of Juan 5. After 30 years both Jennifer and Juan plan to retire and cash out their 401K. Assume, their 401K funds will yield 6% per year compounded monthly. i. How much more money will Jennifer get than Juan after they cash out their 401K