Directions. Give what is asked in each number. Show your solution.
1. Sam and Alfie are brothers. After college graduation and being finally able to get a
good job, they plan for retirement as follows.
> Starting at age 24, Sam deposits P15,000 at the end of each year for 30 years.
> Starting at age 42, Alfie deposits P30,000 at the end of each year for 20 years.
Who will have the greater amount at retirement if both annuities earn 12% per year
compounded annually?