Creating a retirement fund$$Personal Finance Problem$$To supplement your$$ retirement, you estimate that you need to accumulate $$$$260$ comma $000$ exactly $44$ years from today. You plan to make$$ equal, end$-$of$-$year deposits into an account paying$7\%$ annual interest.

a$.$How large must the annual deposits be to create the $$$$260$ comma $000$ fund by the end of $44$years$?$

b$.$If you can afford to deposit only $$$$740$ per year into the$$ account, how much will you have accumulated in $44$years$?$

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Part $1$

a$.$The annual deposits to create the $$$$260000$ fund by the end of $44$ years should be $$$

$$

$977\mathrm{.}00.($Round to the nearest$$ cent.$)$

Part $2$

b$.$ If you can afford to deposit only $$$$740$ per year into the$$ account, by the end of $44$ years you will have $$$