Assume that you are 30 years old today, and that you are planning on retirement at age 65. Your current salary is $35,000 and you expect your salary to increase at a rate of 4% per year as long as you work. To save for retirement, you plan on making annual contributions to a retirement account. Your first contribution will be made on your 31st birthday and will be 8% of this year's salary. Likewise, you expect to deposit 8% of your salary each year until you reach retirement. Assume that your discount rate is 9%. If you stick to this plan, the present value (at age 30) of your retirement savings is . How much do you expect to have when you retire? A 545,175; 5922,201 8.957,047, 5600,566 $23,487, 5120,042 D. 580,578; S494,832