Timmy and Tommy have been friends since they are kids. They were born on the same day. Timmy sets himself a goal of amassing $1M in his retirement fund by the time he turns 60. He begins saving $3,000 per year, starting on his 21th birthday. Tommy set the same retirement goal as his friend. However, there always seemed to be a reason not to save money, so he put it off for many years. Finally, with just 15 years to retirement, he began to save. Fortunately, Tommys executive-level job allowed him to save $30,000 per year. If each of their savings accounts earns 10%, semi-annually, will they achieve their $1 million goal on their 60th birthday?