A couple thinking about retirement decide to put aside $18500 each year in a savings plan that earns 3.3% interest. In 15 years they will receive a gift of $60,000 that also can be invested.

a. How much money will they have accumulated 30 years from now? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Accumulated savings $

b. If their goal is to retire with $880,000 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 annual savings needed $