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 s 4,902.40 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 S 5,147 52 c. How much do they need to save in nominal terms in the last year? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Nominal savings $ 56217 88 3