Question 1 2 pts Jill has a balance of $ 883,000 in her retirement savings...
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Question 1 2 pts Jill has a balance of $ 883,000 in her retirement savings account. She expects to retire in 12 years. She will not save any additional money until she retires, but what she has in savings now will earn 12% for the next 12 years. Bob has a balance of $444,000 in his retirement savings and he also wants to retire 12 years from now. He plans to save money every year for the next 12 years so that he will have exactly as much money as Jill does 12 years from now. If he earns the same rate on his savings as Jill, how much will he have to save each year for 12 years to catch up with Jill? Round your answer to 2 decimal places, for example 1000.12. Question 2 2 pts Suppose you will save the following amounts for retirement: $300 per month for the next 5 years, then $500 per month for 6 years after that, then $800 per month for 7 years after that. If you can earn 11% APR on your savings, how much will you have in your savings 18 years from now
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