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this is a calculator question, please help! Unit 1 Review Assignment Foundations 12 11. Bruce and Sharon are the same age and both had pension

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Unit 1 Review Assignment Foundations 12 11. Bruce and Sharon are the same age and both had pension plans with their place of employment. Sharon started contributing $2500 per year at age 25. Bruce did not start making regular contributions until age 40, but at that point contributed $6500 per year. Sharon's plan earned and annual rate of 4.55% compounded quarterly whereas Bruce's plan paid an annual rate of 4.85% compounded semi-annually. Bruce Sharon NE N- 1% 1% PV = PV PMT PMT FV = FV PHY P/Y= C/Y CAY a) What was the value of each plan when each is 65 years old? Bruce FV = S306354.08 Sharon FV - $275957.69 ssessment No Attempt = 0 Beginning - 1 Emerging = 2 Developing = 3 Proficient - 4 Exemplary b) How much did Bruce and Sharon contribute to their respective plans? Bruce $162500 Sharon - $100000 sment No Attempt = 0 Beginning = 1 Emerging = 2 Developing = 3 Proficient = 4 Exempla Page 11 of 15 c) How much interest did each earn? Bruce = $143854.08 Sharon -$175957.69 nent No Attempt = 0 Beginning = 1 Emerging = 2 Developing = 3 Proficient = 4 Exemplary d) Compare their rate of returns. Bruce = 88.52% Sharon - 175.96%

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