Your daughter just gave birth to a baby. You are going to invest

$20,000

to help pay for college. Your broker offers you two investment choices: (1) a portfolio of stocks that is expected to earn a growth rate of 9%;

or (2) a portfolio of government bonds that will earn a rate of3%

per year. How much will be in the account after 10 years under each investment choice? (1) The amount in the account after 10

years, if invested in a portfolio of stocks, is ? (Round to the nearest cent.)

(2) The amount in the account after

10 years, if invested in a portfolio of government bonds, is ?