A couple will retire in 40 years; they plan to spend about $33,000 a year (in current dollers) in retirement, which should last about 20 years. They believe that they can earn a real interest rate of 8% on retirement savings: a. If they make annual payments into a savings plan, how much will they need to save each year? Assume the first payment comes in 1 yeat. Note: Do not round intermedlate calculations. Round your answer to 2 decimal places. b. How would the answer to part (o) change if the couple also realize that in 15 years they will need to spend $63,000 on their child's college education? Note: Do not round intermediate calculations. Round your answer to 2 decimal places