Creating a retirement fund Personal Finance Problem. To supplement your retirement, you estimate that you need to accumulate $$240,000$ exactly $41$ years from today. You plan to make equal, end$-$of$-$year deposits into an account paying $11\%$ annual interest.

a$.$ How large must the annual deposits be to create the $$240,000$ fund by the end of $41$ years?

b$.$ If you can afford to deposit only $$290$ per year into the account, how much will you have accumulated in $41$ years?

a$.$ The annual deposits to create the $$240,000$ fund by the end of $41$ years should be $

$($Round to the nearest cent$)$

b$.$ If you can afford $ deposit only $$290$ per year into the account, by the end of $41$ years you will have $ $($Round to the nearest cent.$)$