Problem $7-25$

You wish to retire in $13$ years and currently have $$40,000$ in a savings account yielding $4$ percent annually and $$80,000$ in quality "blue chip" stocks yielding $9$ percent. If you expect to add $$30,000$ at the end of each year to your stock portfolios, how much will you have in your retirement fund when you retire? Use Appendix A and Appendix $C$ to answer the question. Round your answer to the nearest dollar. $

What rate of return must you earn on your retiremerif funds if you want to withdraw $$96,000$ per year for the next $14$ years after retiring? Use Appendix $D$ to answer the question. Round your answer to the nearest whole number. $\%$