Forty-five year old Jim Wiseman just got a new job earning $60,000 per year. He will save 10% of his income each year for his retirement at age 55. He must decide whether to invest his savings in Big Sky Bank which offers 20% compounded semi-annually or Valley Bank which offers 8% compounded quarterly. What compounded amount would he earn he chooses to invest his savings in Big Sky Bank? What compounded amount would he earn if he chooses to invest his savings in Valley Bank?