STORY (very similar to what was shown in class): YOU and your BEST FRIEND just graduated from college. You both went to the same college and majored in the same field. You both started working at age 21 in similar workplaces. You are both offered a 401(k)-retirement plan. Your workplace matches your 401(k) contributions up to 5% of your total contributions. Your friend's workplace does NOT. Each of you decided upon a different course of action for your respective retirement plans. Assuming each plan earned 12% interest as an annual return and both of you decided to retire at age 55, calculate the earnings each plan generated. Upon the advice of your Personal Finance professor (hint, hint), YOU began immediately putting $6,000 per year in an individual retirement account (IRA) and $20,500 per year in a 401K. Your company will match an additional 5% of your total 401(k) contribution. You contributed for a total of 15 years and receive 12% interest on the investment. After 15 years, you made no further contributions into the account, but the account will continue to gain interest until retirement. Your BEST friend did not contribute to their retirement accounts until they turned 27, even though you both worked in similar places. They had planned to simply invest $6000 in their individual retirement account and $20,500 in their 401k each year for the remaining years until they retired at age 55. They will also receive 12% interest on their investments. Your BEST friend did not contribute to their retirement accounts until they turned Q7, even though you both worked in similar places. They had planned to simply invest $6000 in their individual retirement account and $20,500 in their 401k each year for the remaining years until they retired at age 55. They will also receive 12% interest on their investments. 12.How much did You contribute, of your own money, into your 401k and IRA throughout the years? 13.How much did your BEST FRIEND contribute, of their own money, into their 401k and IRA throughout the years? 14.How much did You accumulate in Your retirement account, with interest, at age 55? 15.How much did your BEST FRIEND accumulate in their retirement account, with interest, at age 55