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PROBLEM SOLVING: 5 0 POINTS 1 . Annual contributions of $ 1 , 0 0 0 will be made to a TFSA for 1 5

PROBLEM SOLVING: 50 POINTS1. Annual contributions of $1,000 will be made to a TFSA for 15 years. The contributor expects investments within the plan to earn 10% compounded annually. What will the TFSA be worth after 25 years if the contributions are made:At the end of each year? (Round your answer to 2 decimal places.)TFSA's worth b.$At the beginning of each year? (Round your answer to 2 decimal places.)TFSA's worth$By what percentage does the answer to Part (b) exceed the answer to Part (a)?(Do not round intermediate calculations and round your final percentage answer to 1 decimal place.)Percent difference%

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