Charlie wants to retire in 10 years, and he wants to have an annuity of $40,000 a year for 20 years after retirement. Charlie wants to receive the first annuity payment at the end of the year during his retirement period. Using an interest rate of 5% for both savings and retirement periods, how much must Charlie invest today in order to have his retirement annuity? (Round your answer to the nearest dollar). Assume you are to receive a 30-year annuity with annual payments of $2,000. The first payment will be received at the end of Year 1. and the last payment will be received at the end of Year 30. You will invest each payment in an account that pays 7 percent annually compounded interest. What will be the value in your account at 55 years from today? 1,025,359.11