Lets consider the retirement plan. Currently, you have invested in four different investments: saving account, two pension plans, and stocks. You are five years away from the retirement. Here are the current values and the growth rate of each plan. Saving account: $88,000 with the annual return at 6.5% per year Pension plan 1: $304,000 growing at 7% per year Pension plan 2: $214,000 growing at 7.25% per year Stocks: $149,000 growing at 8.5% per year Answer the following questions:

a. Determine the future value of each investment in the next 5 years.

b. Suppose your retirement goal is $2 million. Determine whether you have enough already invested in the plans to make the $2 million goal in the next 5 years.