(Please use an finance equation and/ or formula rather than using a sheet chart, excel, or graph)

Two friends received $25,000 on their 18^th birthday. Both decide to invest the money to become millionaires. Jill is more risk-averse than Jack, so Jill invests in stocks expected to earn 8% while Jack invests in stocks expected to earn 10%. Jack and Jill expect to invest an additional $10,000 at the end of each year. By how many years sooner will Jack become a millionaire before Jill?

4.25 years

6.45 years

2.88 years

3.36 years

5.4 years

Part B If Jill wants to become a millionaire at the same time as Jack, how much money will she need to annually contribute? (instead of $10,000, use past question information)

$14,285

$13,867

$14,935

$11,674

$12,425