Earl E. Bird has decided to start saving for his retirement. Beginning on his twenty-first birthday. Earl plans to invest $2,000 each birthday into a savings investment earning a 7 percent compound annual rate of interest. He will continue this savingsprogram for a total of 10 years and then stop making payments. But his savings willcontinue to com- pound at 7 percent for 35 more years, until Earl retires at age 65.Ivana Waite also plans to invest $2,000 a year, on each birthday, at 7 percent, andwill do so for a total of 35 years. However, she will not begin her contributions until her thirty-first birthday. Question: How much will Earl's and Ivana's savings programs be worth at the retirement age of 65? Who is better off financially at retirement, and by how much