Betty plans to begin saving one year from today. She will contribute $12,000 per year for 35 years and estimates that he can earn an annual rate of 6% on his savings. How much does she expect to have in 35 years?

• $1,325,217
• $1,337,217
• $1,424,710
• $1,471,437
• None of the above

Tam needs $4,000,000 when you retire in 40 years and can earn 8% on all invested funds. She will start contributing to your retirement account in a month. How much does she have to put into your retirement account every month?

• $1286.72
• $1,145.80
• $2329.45
• $27,953.39
• $15,440.65