Ruby is 25 and has a good job at a biotechnology company. She currently has $8,600 in an IRA, an important part of her retirement nest egg. She believes her IRA will grow at an annual rate of 8 percent, and she plans to leave it untouched untif she retires at age 65 Ruby estimater that: he wit need $975,000 in thet rotafretirement nest egg by the time she is 65 in order to have retirement income Exh in: 1 , answer the following questions: a. How much will Ruby's IRA be worth when she needs to start withdrawing money from it when she retires? (Round discount foctor to 3 decimal places and final answer to the nearest whole dollar.) b. How much money will she have to accumulate in her company's 401(k) plan over the next 40 years in order to reach her retirement income goal? (Round discount factor to 3 decimal ploces and final answer to the nearest whole dollor.) \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|c|} \hline Fevilad & 25 & n & at & As & & 6x & n & at & n & 101 & 115 & 1 \\ \hline 1 & 0.050 & 0.100 & & 0.002 & a.n2? & & aren & 0.026 & & & 0,001 & eims \\ \hline 3 & 1.020 & Kag & & 1.040 & & 1.010 & 1.045 & & (1.2519 & ine & 1.713 & 1,000 \\ \hline 1 & 2.341 & & & 2.725 & & 7.621 & 2.626 & & 2.511 & 1.431 & 2.44 & 2.402 \\ \hline 3 & & & 3.217 & 3.690 & 3.34 & 2.44 & 3lin & 3.111 & 3.240 & 3.120 & 1,102 & 3.097 \\ \hline 3 & A.os3 & 4.713 & 4.510 & 4.452 & 4.132 & 4.1212 & 4,100 & & & 3.791 & 3,636 & 3.605 \\ \hline 5 & & & 3.412 & 5.742 & & A.917 & 4.76 & & 4.486 & & 4.211 & 4.111 \\ \hline 7 & 8.721 & & 5.230 & & 5.744 & & & & & Anter & 4.712 & 4.364 \\ \hline & & 7.185 & nege & & 6.451 & sizie & 5,971 & 57247 & & & 5.146 & \\ \hline & & & & 7.45 & 7.100 & 6.ter & 6.515 & 6,347 & & & 5.517 & \\ \hline 10 & 9.471 & & 8350 & & & 2.160 & 7.074 & & i & 0.145 & & \\ \hline 11 & 10. 24 & 2.75! & 2.703 & B.res & & 7.85 & rodws & 3.113 & s.an & 6,451 & 6.207 & \\ \hline 17 & 11.25 & 10.97 & 8.954 & 2.245 & 0.063 & & 3.5% & 7059 & 7.161 & Gifle & & 5,104 \\ \hline 11 & 12.134 & 31.241 & 10.65 & & 9.394 & s.05I & a.3y & 2.201 & 2,+11 & & & \\ \hline 14 & 13,004 & & 1: & 10.96 & 3.013 & & P.725 & 0.244 & & t.210 & & \\ \hline 18 & 13.965 & & 11.579 & 11.110 & 10.74 & 0.712 & 9.19 & 8.55 & & zase & 7.191 & B..011 \\ \hline 36 & 14.731 & & 12.501 & 31.02 & & 10.106 & & 0.151 & 9.311 & & 2.17 & 6.974 \\ \hlineD & t5.Met & 14.202 & Dhice & 12.165 & 11,27 & 10.477 & & 0.122 & 0.544 & 1.022 & 2.845 & 7.101 \\ \hline HI & & 14.92 & 13.74 & 12.659 & Batge & 10.028 & 10.05s & 0.172 & 8.28 & 8.291 & 7.702 & \\ \hline in & 17.221 & 3.0m & 14.324 & 13.114 & 3.003 & 11.10 & pe.sy & 7.604 & n.98e & 2.365 & 2.019 & \\ \hline 20 & & 10.281 & 14.m & 17.92 & 13.46z & 11.470 & 1050 & F.110 & & 0.514 & 7,981 & 17.46 \\ \hlineB & & & 12.413 & 15.672 & 14.064 & 12.71 & 11.0se & 10,412 & & 397 & 0.423 & 12,041 \\ \hline 28 & & & & & 15.31 & & 17.490 & 11.28 & 10.724 & 0.63 & & 10.05 \\ \hline 4. & 9.015 & m.785 & p.115 & to, 701 & & 15.006 & & 11.58 & & 5.20 & atasl & \\ \hline & & nista & 25.710 & 21,41 & 14.216 & & D.tan & 12.231 & & 7915 & 2.169? & 1.304 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|c|c|} \hline reegal & IIX & & 158 & IEI & in: & tet & in & m & & 3 in & & ant & Sas \\ \hline 1 & 0.105 & 0.02 & gape & 0.04 & e.tos & 0,847 & 0.640 & 0.01 & 0.5a & 6.783 & 0.74 & p.ria & a.s? \\ \hline 2 & 1.60 & 16841 & 1.620 & 1.502 & 1.305 & 1.96 & Jis? & 1,20 & & & 1,709 & & 1111 \\ \hline 3 & & & & & 3.210 & 2.124 & 2100 & 2.16 & Won? & 1.916 & & & 1,407 \\ \hline 1 & & 2.714 & 22.515 & & & & 2.570 & 250 & & & ing & & \\ \hline 1 & 3.12 & & & 3.214 & th & him & & 2hn & & 2,416 & & & \\ \hlineE & x= & & & & 3.599 & & & 3.124 & & 2001 & & 7.109 & lin4 \\ \hline & 4.421 & & 4.16 & 4.50 & 4.21 & 3.112 & tinx4 & 360 & 3,141 & 2sin & & & inail \\ \hline & & & 4,417 & 4.24 & & a.pen & & & & & FWe & 2m & (i)2 \\ \hline & & 4.94 & 4,m & & & Anat & (4.15) & tion & 3.465 & roin & & & inset \\ \hline 10 & 5,46 & & & & & G.APA & 4.20 & 4.17) & & 2.022 & & 2.4.4 & 1095 \\ \hline 11 & itip & & & & 4.00 & A.0.e & t.46 & a.1 & & & & 2411 & \\ \hline II & & & 2.421 & 5.10 & 40 & 4n & 4.011 & 4.415 & & 3.10 & 2.27 & 7.46 & Fines \\ \hline 13 & 4.112 & & 3001 & & 5.114 & & a.715 & 4,531 & & 3.219 & 3.7n & 2.479 & 16908 \\ \hline 14 & 6.202 & .000 & & 3.460 & & & 4,log2 & a.111 & & 7.20 & 2.618 & 3.470 & 3.09 \\ \hline in & & & 5.54 & & 3.314 & 1.6\% & 4,578 & 4.56 & & & & 3.494 & 1.09 \\ \hline 16 & & & 3,154 & 5.64 & & 3.16 & 4.219 & 4.70 & 1,lin & 2.21 & 7.134 & X.4931 & 1.m \\ \hline DI & & & b. 134 ? & & & 5.22 & 4.9h1 & 4,73 & & ln & 0.549 & & \\ \hline In & 6.419 & 8,447 & 6.tri & 3.11 & s.54 & x,m & 5.00 & 4 in & 3,211 & & 2.044 & 3.434 & t. 29 \\ \hline 13 & & & & sin12 & 5.54 & 5,216 & 3.920 & & 3.007 & 1.111 & 2.141 & 2.476 & \\ \hline in & 7025 & & 4.10 & 3.29 & rass & 5,153 & 5.101 & 4.00 & & 3.116 & & 2.421 & \\ \hline 5: & 2.10 & 0,212 & 6.4e4 & 6.027 & 3.76 & 1.49 & 3.15 & 4.90 & 3.365 & 3.179 & 2.13 & 2.430 & \\ \hline 30 & 2.4N & & c.s4 & Gin & 5.130 & 5.517 & 3.255 & 4.67 & 3.925 & & 2.152 & 2.200 & \\ \hline 40: & 3.514 & 7,104 & 4,94? & 6.239 & sin & 5.54 & 5.248 & 4.997 & 2.099 & 3.21 & 2.157 & 2.800 & 2,000 \\ \hline 8 & & 7,131 & 0.569 & 6.206 & & 5.354 & 5.262 & 4.90 & 4.909 & 1.311 & & & \\ \hline \end{tabular}