Homework: Chapter 1 Homework Save Score: 0 of 1 pt 1 of 6 (4 complete) HW Score: 40%. 4 of 10 pts P1.1 (similar to) Question Help Stefani German, a 40-year-old woman, plans to retire at age 65, and she wants to accumulate $470,000 over the next 25 years to supplement the retirement programs provided by the federal government and her employer. She expects to earn an average annual return of about 3% by investing in a low-risk portfolio containing about 20% short-term securities, 30% common stock, and 50% bonds Stefani currently has $76,417 that at an annual rate of return of 3% will grow to about $160,000 by her 65th birthday (the $160,000 figure is found using time value of money techniques, Chapter 4 Appendix) Stefani consults a financial advisor to determine how much money she should save each year to meet her retirement savings objective. The advisor tells Stefani that if she saves about $27.43 each year, she wil accumulate $1,000 by age 65. Saving 5 times that amount each year, $137.15, allows Stefani to accumulate roughly $5,000 by age 65. pful a. How much additional money does Stefani need to accumulate over time to reach her goal of $470,000? b. How much must Stefani save to accumulate the sum calculated in part over the next 25 years? 1 a. To reach her goal of $470,000, Stefani needu to accumulate $(Round to the nearest dollar)