Retirement Savings

You believe you will spend $$125,000$ a year for $29$ years once you retire in $38$ years. If the interest rate is $6\mathrm{.}90\%$ per year. $($Do not round intermediate calculations. Round your answer to $2$ decimal places.$)$

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?