Different Question:

A couple thinking about retirement decide to put aside $24,000 each year in a savings plan that earns 9.10% interest. In 8 years they will receive a gift of $152,000 that also can be invested. a. How much money will they have accumulated 26 years from now? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Accumulated savings b. If their goal is to retire with $3,422,411 of savings, how much extra do they need to save every year? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Additional savings $ per year Willie Wilson plans to borrow $35,479 at the beginning of each of his 4 years of college. He will repay the loan in 10 equal annual installments at the end of each year starting one year after he graduates. If the interest rate is 11.09%, how large will the installments be? Interest will accrue on Willie's loan while he is in college