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18. When Joe and Sarah graduate from college, each expects to work a total of...

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18. When Joe and Sarah graduate from college, each expects to work a total of 45 years. Joe begins saving for retirement immediately. He plans to deposit $600 at the end of each quarter into an account paying 2.1% interest, compounded quarterly, for 10 years. He will then leave his balance in the account, earning the same interest rate, but making no further deposits for 35 years. Sarah plans to save nothing during the first 10 years and then start depositing $600 at the end of each quarter in an account paying 2.1% interest, compounded quarterly, for 35 years. a. How much will Joe contribute to his retirement account? $24,000 b. How much will be in Joe's account after 45 years? $55,426.86 c. How much will Sarah contribute to her retirement account? $84,000 d. How much will be in Sarah's account after 45 years? $123,597.28

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