A- Your parents will retire in 30 years. They currently have $220,000 saved, and they think they will need $2,350,000 at retirement. What annual interest rate must they earn to reach their goal, assuming they don't save any additional funds? Round your answer to two decimal places.

B- What is the present value of a security that will pay $40,000 in 20 years if securities of equal risk pay 9% annually? Round your answer to the nearest cent.