write answers on top and paste in text, not just excel photo. Also show formula text after the answer.

2. A couple thinking about retirement decide to put aside $4,000 each year in a savings plan that earns 6% interest. In 5 years they will receive a gift of $10,000 that also can be invested. a. How much money will they have accumulated 30 years from now? b. If their goal is to retire with $500,000 of savings, how much extra do they need to save every year?