Ruby is 25 and has a good job at a biotechnology company. She currently has $9.000 in an IRA, an important part of her retirement nest egg. She believes her IRA will grow at an annual rate of 8 percent, and she plans to leave it untouched until she retires at age 65. Ruby estimates that she will need $875,000 in her total retirement nest egg by the time she is 65 in order to have retirement income of $20.000 a year (she expects that Social Security will pay her an additional $15,000 a year). Q. How much will Ruby's IRA be worth when she needs to start withdrawing money from it when she retires? Use Exhibit 1A. (Round FV factor to 3 decimal places and final answer to the nearest whole dollar.) Future value of RA b. How much money will she have to accumulate in her company's 401(k) plan over the next 40 years in order to reach her retirement income goal? (Round your answer to the nearest whole dollar.) Required future value of 401(k) Bidding Liliation 40 50 1.489 1,645 2.208 2602 3.262 4.384 4.801 7.107 7.04 11.467 10.286 18.42 14.974 29.467 21.725 46.902 31.409 74,368 45.259 117.391 65.001 184.566 Period 19% 30% 14% 114 15% 115 1.323 16% 116 17% 117 18% 118 25% 1.25 1.19 2 1.346 1.392 1.416 1.3 1.482 1.69 1.563 1.953 1.521 1.643 13% 113 1.277 1.443 163 1.842 2082 2.353 1.685 2.197 1.689 20% 1.2 1.44 1.728 2074 2.488 2.986 3.583 1.749 1.939 2.856 2011 1925 2.195 2.288 1.561 1.811 21 2.436 2.826 3 278 2441 3.052 6 2.313 2005 2.386 2.84 3.379 2.7 1.369 1.602 1.874 2.192 2565 3001 3.511 4.108 4.807 5.624 3.815 3.713 4827 6.275 2.502 2.66 4.768 2.658 2853 3.059 3.185 3759 4.021 4.3 9 5.96 8.157 3004 3252 3518 3.803 4.435 4.785 12% 1.12 1254 1.405 1.574 1.762 1974 1974 2211 2.476 2773 3.106 3.479 3 895 4363 4887 5474 6.13 6.866 7.69 8613 9.546 5 16 10 3 395 3.707 4.046 4.411 5.234 11 5 695 6.192 4 226 4.652 3836 4.335 5.117 6 176 6.777 743 4 818 5.35 5.936 6.58 7.288 4.898 8.916 5.492 6.153 6.886 7.699 8.064 9.596 8.599 6.261 10 699 7076 7.988 9.007 10 147 11.42 5.535 6 254 7.067 7.138 8.137 9.266 10.539 11.974 12 839 15 407 13.59 8.137 9.358 10.748 12.33 14.129 7.986 16.172 9 276 10.761 18.488 12.468 14.426 16.672 10.575 19.244 7.451 10.604 9313 13.786 11.642 17.922 14.552 23.298 18 19 30.288 22 737 39.374 28.422 51 186 35 527 66.542 44 409 86.504 55 511 112.455 69.389 146 192 86.736 190 05 264 698 705.641 807794 2619.996 7523.164 36118.865 70064 923497929 223 12.375 22.186 14.463 8 16.879 19.673 12.056 22 901 14.232 26.623 16.777 8 19.748 23214 9.024 10. 197 11.523 21.231 39.116 132782 13743 16367 31.948 19.461 23 106 27393 26.462 32 919 40.874 38.338 8 50.658 2996 9.051 62.669 50.95 66 212 27 252 32.429 77 388 184 675 1051 668 95 396 8 85.85 111.065 188 884 50 289 002 237.376 450 736 267.864 1083 657 700 233 378.721 1670.704 533.869 143.371 750 378 3927 357 1469.772 2566 215 9100 438