Frank wants to retire in 20 years. He estimates he will need $200,000 in today's dollars per year in addition to Social Security. He has already saved $2 million. How much MORE must he save if he anticipates living 30 years in retirement; inflation is 3%; and he can earn 6% on his investments?

Group of answer choices

$1,625,911

$955,053

$1,013,272

$844,873

How much must Frank save per year for the remainder of his working life to reach his retirement goal?

Group of answer choices

$25,963

$36,274

$27,545

$43,591