1a Dylan would like to save for retirement. He plans to save $6,000 per year for 20 years. His annual retirement contributions will be made at the end of each year. If his retirement account can earn 6 percent annual interest, what will the account balance equal twenty years from today, when Dylan has made his 20th annual retirement savings contribution?

b Dylan purchased a medical expense insurance policy. The policy has a $2,500 deductible and a 70-30 coinsurance provision. Dylan needed a surgical procedure and he was hospitalized for three days after surgery. The total bill (surgery, hospital and other covered expenses) was $28,000. How much of this amount must Dylan pay and how much will his insurer pay? Clearly indicate how much each party pays. Remember to consider the deductible.