Creating a retirement fund: Personal Finance Problem$$

To supplement your$$ retirement, you estimate that you need to accumulate $$$$310,000$ exactly $41$ years from today. You plan to make$$ equal, end$-$of$-$year deposits into an account paying $8\%$ annual interest.

a$.$How large must the annual deposits be to create the $$$$310,000$ fund by the end of $41$years$?$

b$.$If you can afford to deposit only $$$$840$ per year into the$$ account, how much will you have accumulated in $41$years$?$

Part $1$

a$.$The annual deposits to create the $$$$310,000$ fund by the end of $41$ years should be $$$$\_\_\_\_\_\_.($Round to the nearest$$ cent.$)$

b$.$ If you can afford to deposit only $$840$ per year into the account, by the end of the $41$ years you will have $$\_\_\_\_\_.($Round to the nearest cent.$)$