Problem $16-06$

You invest $$1,000$ in stock A and $$1,000$ in stock B$.$ If you earn $8$ percent on stock A and $7$ percent on stock B and hold each security for $14$ years, what are the terminal values for each investment? Round your answers to the nearest cent.

Stock A: $

Stock B: $

If you continue to hold each security and earn the same returns for $23$ years, how much more will stock A generate than stock B over the entire time period? $($When you invest for retirement, you should think about the impact of returns over time.$)$ Round your answer to the nearest cent.

$