IMPORTANT NOTE: Your answer should be with units. Instead of $30\mathrm{.}00$ to reference a $30$ dollar payment, your answer should be $$30\mathrm{.}00.$

Leila knows that she needs $$32,600$ per year to live comfortably now. She plans to retire in about $38$ years and plans to be retired for about $21$ years after that.

A$)$ Determine how much Leila needs in the first year of retirement to maintain her current standard of living when she retires $38$ years from now $($assuming $3\%$ inflation$).$

NOTES: To avoid previous errors creating more errors...

Please use $$105,000$ as the amount she needs in the first year of retirement, even though it is different than your answer from part A$.$ This amount would increase by the COLA of $3\%$ annually.

B$)$ Determine how much she needs to have in her retirement account to be paid out monthly amounts for $21$ years if the account earns $4\%$ annual interest and the payments adjust annually for inflation so she can maintain her standard of living.

NOTES: To avoid previous errors creating more errors...

Please use $$105,000$ as the amount she needs in the first year of retirement, even though it is different than your answer from part A$.$ This amount would increase by the COLA of $3\%$ annually.

Please use $$2,000,000$ as the amount needed at retirement, even though it is different than your answer from part $B.$

C$)$ Determine how much she needs to invest each month at $7\%$ annual interest compounded monthly over the next $38$ years in order to have $$2,000,000.$