00 Problem 5-45 Retirement Savings (L03) 10 points A couple thinking about retirement decide to...
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00 Problem 5-45 Retirement Savings (L03) 10 points 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.) eBook 121 Print Accumulated savings References 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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