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Janine is 47 and has a good job at a biotechnology company, Janine estimates that she will need $955.000 in her total retirement nest egg

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Janine is 47 and has a good job at a biotechnology company, Janine estimates that she will need $955.000 in her total retirement nest egg by the time she is 65 in order to have retirement income of $28,500 a year. (She expects that Social Security will pary her an additional \$21,500 a year) She currently has \$6,500 in an IRA, an important part of her retirement nest egg. She believes her IRA will grow at an annual rate of 8 percent, and she plans to leave it untouched until she retires at age 65 . How much money will Janine have to accumulate in her company's 401(k) plan over the next 18 years in order to reach her retirement income goal? Use (Exhibit 1 -A. Exhibit 1.8. Exhibit 1.C. Exhibit 1-D). Note: Use appropriate factor(s) from the tables provided, Round time value factor to 3 decimal places. Round intermediate and final answer to 2 decimal places

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