Question: information to answer second picture is in first picture Use the following information to answer the next three questions: You have just now decided to

information to answer second picture is in first picture

Use the following information to answer the next three questions: You have just now decided to start saving for retirement. To live comfortably, you decide you will need to save $4 milion by the time you are aged 70. Assume that today is your 30th birthday and that your retirement account earns 8% interest per year. Question You realize the plan from the prevlous question has a flaw. Because your income will increase over your lifetime, it would be more realistic to save less now and more later. Instead of putting the same amount aside each year, you decide to let the amount that you set aside grow by 3% per year. Under this plan the amount of your first deposit (payment) today (on your 30th birthday) would be closest to? $9.949$10.745$14.297$10.893$10.030

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