solved:7) Nicole is diligent and, starting on her 19th birthday, s

  

7) Nicole is diligent and, starting on her 19th birthday, she saves$1,000 a year. She continues her annual deposits until her 25th birthday when she makes her final deposit and decides to stop saving. But she leaves her accumulated savings in the bank until age 65. Paris doesn’t start saving until she is 26, at which time she starts saving $1,000 a year every year until (and including) age 65. The interest rate is10%What is the difference between Paris and Nicole’s savings at age 65?AccountingBusinessFinancial Accounting ACC 211