Question: nect FINANCE Instructions I help m Save & Exit Submit Question 17 (of 30) Time remaining: 1:21:54 A couple thinking about retirement decide to put

 nect FINANCE Instructions I help m Save & Exit Submit Question

nect FINANCE Instructions I help m Save & Exit Submit Question 17 (of 30) Time remaining: 1:21:54 A couple thinking about retirement decide to put aside $3,300 each year in a savings plan that earns 8% interest. In 5 years they will receive a gift of $13,000 that also can be invested. a. How much money will they have accumulated 30 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 $830,000 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 annual savings needed

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