Laura Hall is a sales executive at a Baltimore firm. She is 25 years old and plans to invest $4,700 each year in an IRA account until she is 65 at which time she will retire (a total of 40 payments). If Laura invests at the beginning of each year, and the 'IRA investment will earn 11.05 percent annually, how much will she have when she retires? Assume that she makes the first payment today. (Round factor values to 4 decimal places, eg. 1.5212 and final answer to 2 decimal places, eg. 15.25.) Future value of investment $ Richard Miller is saving for an Australian vacation in three years. He estimates that he will need $4,930 to cover his airfare and all other expenses for a week-long holiday in Australia. If he can invest his money in an S&P 500 equity index fund that is expected to earn an average annual return of 10.9 percent over the next three years, how much will he have to save every year if he starts saving at the end of this year? (Round factor values to 4 decimal places, e.g. 1.5212 and final answer to 2 decimal places, eg. 15.25.) Savings