Sheldon and Leonard each make deposits of RM100 at the end of each year for 20 years

Finance Dec 28, 2021

Sheldon and Leonard each make deposits of RM100 at the end of each year for 20 years. At the end of the 21st year, Sheldon makes monthly withdrawals for 15 years. Leonard makes monthly withdrawals forever. Sheldon’s fund earns an interest rate of 8% compounded semi-annually. Leonard's fund earns an interest rate of 5% effective per quarter. Calculate the difference of the monthly withdrawal made by Sheldon and Leonard.