A couple will retire in 50 years they plan to spend (in today's dollars) about $30.000 a year in retirement, which should last about 25 years. They believe that they can earn 8% interest on retirement savings. The inflation rate over the next 75 years is expected to average 5% a. What is the real annual savings the couple must set aside? Assume they will discontinue saving when they retire. (Do not round Intermediate calculations, Round your answer to 2 decimal places.) Real annual savings $ 558.14 b. How much do they need to save in nominal terms in the first year? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Nominal savings $1,407,048.40 rch DR e c. How much do they need to save in nominal terms in the last year? (Do not round intermedi 2 decimal places.) Nominal savings d. What will be their nominal expenditures in the first year of retirement? (Do not round interme answer to 2 decimal places.) Nominal expenditures e. What will be their nominal expenditures in the last year of retirement? (Do not round intermedi to 2 decimal places.)