Refer to Exercise 69. For someone who has a conservative investment strategy with n years to retirement, the geometric sequence is a_n = 1278(0.935)n.

(a) Repeat part (a) of Exercise 69. 

(b) Repeat part (b) of Exercise 69.

(c) Why are the answers in parts (a) and (b) greater than those in Exercise 69?

Exercise 69.

According to T. Rowe Price Associates, a person with a moderate investment strategy and n years to retirement should have accumulated savings of an percent of his or her annual salary. The geometric sequence

a_n = 127610.9162ⁿ

gives the appropriate percent for each year n.