Ryan has decided to retire once he has $1,500,000 in his retirement account. At the end of each year, he will contribute S 7,000 to the account, which is expected to provide an annual return of 7.0%. How many years will it take until he can retire? (Round to the nearest year.) 32 years 36 years 38 years 41 years 37 years Suppose Ryan's friend, Andy, has the same retirement plan, saving $7,000 at the end of each year and retiring once he hits S 1,500,000. However, Andy's account is expected to provide an annual return of 9.4%. How much sooner can Andy retire? (Round to the nearest year.) 6 years 4 years 7 years 8 years 5 years After 25 years, neither Ryan nor Andy will have enough money to retire, but how much more will Andy's account be worth at this time? $107,938 $139,984 $130,073 $186,514 $169,363 Ryan is jealous of Andy because Andy is scheduled to retire before him, so Ryan decides to make whatever end-of-year contribution is necessary to reach the $1,500,000 goal at the same time as Andy. If Ryan continues to earn 7.0% annual interest, what annual contributions must he make in order to retire at the same time as Andy' $11,695 $13,361 $7,751 $3,408