An article on saving for retirement estimates that a 35 year old will need 1.2 million to retire at age 65. (do this question on your calculator) a. How much money should you deposit today to reach that goal if your investments will return 8% compounded semi-annually. b. You currently have only $80,000 in your retirement savings plan what rate of return, compounded semi-annually (j2 =?) do you need to reach your retirement goal? (assume same FV as a) c. You estimate you can achieve an annual rate of return of 10% effective. How old will you be when you retire if you have $80,000 now? An article on saving for retirement estimates that a 35 year old will need 1.2 million to retire at age 65. (do this question on your calculator) a. How much money should you deposit today to reach that goal if your investments will return 8% compounded semi-annually. b. You currently have only $80,000 in your retirement savings plan what rate of return, compounded semi-annually (2 = ?) do you need to reach your retirement goal? (assume same FV as a) c. You estimate you can achieve an annual rate of return of 10% effective. How old will you be when you retire if you have $80,000 now?