A couple wants to accumulate a retirement fund of $300,000 in current dollars in 18 years. They expect inflation to be 4% per year over that period. If they set aside $20,000 at the end of each year and earn 6% on their investment, will they reach their goal?

1. Yes, they will accumulate $10,368 more than they need
2. Yes, they will accumulate $47,454 more than they need
3. No, they will accumulate $10,368 less than they need
4. No, they will accumulate $47,454 less than they need