A couple retire in 50 years; they plan to spend about $40,000 a year in retirement, which should last about 25 years. They believe they can earn 7% interest or retirement savings. Hey. If they make annual payments into savings plan, how much will they need to save each year? I assume the first payment comes in one year. (Do not round immediate calculations. Round your answer to two decimal places.) Be. How was the answer to park a change if the couple also realize thatIn 20 years they will need to spend $70,000 on their child's college education