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. John and Lisa graduated from college in May 2005 and got married a few months after graduation. They each graduated with $50,000 in student

. John and Lisa graduated from college in May 2005 and got married a few months after graduation. They each graduated with $50,000 in student loans. John locked in a fixed interest rate of 5% on his student loan, payable monthly over 15 years. Lisa locked in a fixed interest rate of 7% on her student loan, payable monthly over 30 years. They each started making monthly payments in July, 2005. In September, 2005, they each got jobs making $45,000 a year. John earned a 5% raise each year and Lisa earned a 10% raise each year. John saved 4% of his annual earnings in a 401K and Lisa saved 10% of her annual earnings in a 401K. Each of their employers had a 401k match of 100 percent of the first 6 percent of their 401K contributions. Please answer the following questions and show all work. You could show work on paper or on an Excel Spreadsheet. a. It is now December 1, 2017 and assuming each of their 401k accounts has earned a consistent 6 percent annual return, how much, including the match, do each of them have in their 401K accounts? b. If they don't contribute anything else, how much will each of them have in their 401k accounts when they retire in 2047 assuming each 401k earns a 6 percent annual return? c. If John would have contributed at least 6%, instead of 4% while he was receiving the employ

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