A couple thinking about retirement decide to put aside $26,000 each year in a savings...
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A couple thinking about retirement decide to put aside $26,000 each year in a savings plan that earns 11.70% interest. In 5 years they will receive a gift of $202,000 that also can be invested. a. How much money will they have accumulated 33 years from now? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Accumulated savings 12814612 b. If their goal is to retire with $12,840,613 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 savings per year
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