Retirement Planning with gift A couple thinking about retirement decide to put aside $18,500 each year in a savings plan that earns 4.00% interest. In 10 years they will receive a gift of $209,500 that also can be invested. a. How much money will they have accumulated 21 years from now? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Accumulated savings b. If their goal is to retire with $1,402,946 of savings, how much extra do they need to save every year? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Additional savings $ per year You believe you will spend $190,000 a year for 28 years once you retire in 33 years. If the interest rate is 11.50% per year. (Do not round intermediate calculations. Round your answer to 2 decimal places.) $ 331331616 a. How much must you need saved once you reach retirement b. how much must you save each year until retirement to meet your retirement goal? $ 96571.62 Consider a 4-year amortizing loan. You borrow $158,000 initially, and repay it in four equal annual year-end payments. a. If the interest rate is 7.68%, calculate the annual payment. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Annual payment b. Prepare an amortization schedule. (Leave no cells blank - be certain to enter "O" wherever required. Do not round intermediate calculations. Round your answers to 2 decimal places.) Loan Balance $ Year-End Interest Due on Balance Time Year-End Payment $ Amortization of Loan $ ON M TIN 3 4 C-1. What is the loan balance at the end of year 1? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Loan balance c-2. Is it the present value of the remaining loan payments? Loan Payments a. If you take out an $45,500 car loan that calls for 48 monthly payments starting after 1 month at an APR of 17.30%, what is your monthly payment? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Monthly payment $ b. What is the effective annual interest rate on the loan? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Effective annual interest rate 1%