Question: answer 7 & 8 please. thank you. Question 7 (0.5 points) Your employer has promised you a pension of $20,000 per year in retirement. How

 answer 7 & 8 please. thank you. Question 7 (0.5 points) answer 7 & 8 please. thank you.

Question 7 (0.5 points) Your employer has promised you a pension of $20,000 per year in retirement. How much money must be invested in the pension fund at retirement in order to fully fund your pension for 25 years if the pension fund earns a 6% return in each year? Your Answer: Answer Question 8 (0.5 points) Your employer provides a 401(k) plan with a matching contribution of 5% of your salary if you put in at least 5% of your salary. If your monthly salary is $1950, then how much must you contribute to your retirement account each month in order to receive the the matching contribution from your employer? Your

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