1Suppose that you are beginning an investment plan.You have decided that you want to retire in 30 years with $1,000,000 in your bank account at that time.How much would you need to invest at the end each of the next 30 years if you could earn 8%?

$8,827

$83,860

$22,045

$46,031

$924,613

2Sam's parents just retired and have $450,000 in a retirement account.They can earn 4% in this account.If they want to withdraw equal amounts of money every year for the next 30 years (starting at the end of this year), how much can take out every year so that 30 years from now, they have no money remaining in their account?

$32,975

$41,564

$15,000

$26,024