Question list Question 5 Question 6 Question 7 Question 8 Question 9 Question 10 Funding your retirement Emily Jacob is 45 years old and has saved nothing for retirement. Fortunately, she just inherited $80,000. Emily plans to put a large portion of that money into an investment account earning a(n)15% return. She will let the money accumulate for 20 years, when she will be ready to retire. She would like to deposit enough money today so she could begin making withdrawals of $42,000 per year starting at age 66 (21 years from now) and continuing for 24 additional years, when she will make her last withdrawal at age 90. Whatever remains from her inheritance, Emily will spend on a shopping spree. Emily will continue to earn 15% on money in her investment account during her retirement years, and she wants the balance of her retirement account to be $0 after her withdrawal on her ninetieth birthday. a. How much money must Emily set aside now to achieve that goal? It a. The amount Emily must set aside now is $ (Round to the nearest cent.) b. The amount Emily needs to set aside to achieve her goal is $ (Round to the nearest cent.) c. The amount that will be left in the account for her heirs is $ (Round to the nearest cent.) Question 11