Problem 7-04 You annually invest $1,000 in an individual retirement account (IRA) starting at the age of 20 and make the contributions for 10 years. Your twin sister does the same starting at age 30 and makes the contributions for 30 years. Both of you earn 8 percent annually on your investment. What amounts will you and your sister have at age 60 ? Use Append x A and Appendix C to answer the question. Round your answers to the nearest doliar. Amount on your account $ Amount on your sister's account: $ Who has the larger amount at age 60 ? the frger amount