Question: A couple thinking about retirement decide to put aside $ 2 7 , 0 0 0 each year in a savings plan that earns 1
A couple thinking about retirement decide to put aside $ each year in a savings
plan that earns interest. In years they will receive a gift of $ that also
can be invested.
a How much money will they have accumulated years from now? Do not round
intermediate calculations. Round your answer to decimal places.
Accumulated savings
$
b If their goal is to retire with $ of savings, how much extra do they need to
save every year? Do not round intermediate calculations. Round your answer to
decimal places.
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