Fred and Erma will retire in 30 years. They plan to save $4,000 each year in a savings account, earning 6% interest.

A. How much money will they have accumulated 30 years from now?

B. Assume that Fred and Erma wish to spend $30,000 a year for 20 years once they retire, and then leave a $150,000 inheritance for their kids. How much do they need in savings when they retire?

C. Will Fred and Erma have enough savings when they retire? If not, what additional ANNUAL amount must they save in years 1 to 30?

you must show supporting work, or describe the numbers you input to your calculator (i.e., enter PMT = 2000; i = 5%; n = 20. Solve for PV = ZZZ).