Please show simple solution

How much does Ray need to save each year for 9 years as a regular savings payment if he wants to retire in exactly 9 years with $1,063,000.00, can earn 14.79 percent on his savings, starts making regular savings payments in exactly 1 year, and saves an equal amount each year with one exception, which is that in 2 years, he plans to make an extra contribution of $31,000.00 to savings?(ROUND THE VALUE TO 0 DECIMAL AND ENTER THE POSITIVE VALUE)

Selected Answer:

156685

Correct Answer:

59,003

Answer range +/-

118.006 (58884.994 - 59121.006 )

• Oswaldo wants to retire with $1,072,000.00. How much does Oswaldo need to save each year for 10 years if he wants to retire in exactly 10 years, can earn 8.98 percent on his savings, makes his first contribution to savings later today, and saves an equal amount each year?(ROUND THE VALUE TO 0 DECIMAL AND ENTER THE POSITIVE VALUE)

  Selected Answer:	70626.52
  Correct Answer:	64,807
  Answer range +/-	129.614 (64677.386 - 64936.614 )