-Q1. Youve saved $30,000 and plan to for retire in 28 years. You will need $40,000 per year to live once you retire, and will live for 30 years after you retire. Your account earns 8% interest annually. How much do you need to save per year over the next 28 years?

(round to the nearest dollar)

-Q2. You plan to deposit a $20,000 sign-on bonus for a new job into an account yielding 5% interest when you graduate in 3 years. You plan to retire 40 years from now and start withdrawing $70,000 per year for 28 years. How much do you need to save per year over the next 40 years to meet your retirement needs?

(round to the nearest dollar)