couple will retire in 50 years; they plan to spend about $20,000 a year (in current dollars) in retirement, which should last about 25 ears. They belleve that they can earn a real interest rate of 9% on retirement savings. a. If they make annual payments into a savings plan, how much will they need to save each year? Assume the first payment comes in 1 year. Note: Do not round intermediate calculations, Round your answer to 2 decimal places. Annual savings b. How would the answer to part (a) change if the couple also realize that in 20 years they will need to spend $50,000 on their child's college education? Note: Do not round Intermediate calculations. Round your answer to 2 decimal places