6. Sam and Rebecca save money for retirement. Sam invests $550 at the end of each

quarter for 24 years. Rebecca waits 12 years. She then invests $1100 at the end of

each quarter for 12 years. Assume both accounts earn 8.9% per year compounded

quarterly.

a) Calculate the total deposit of each annuity.

b) Determine the amount and interest earned of each annuity.

c) Explain why investing earlier is a better strategy, even with the same total

deposit