Stefani German, a 40 -year-old woman, plans to retire at age 65 , and she wants to accumulate $500,000 over the next 25 years to supplement the retirement programs provided by the federal government and her employer. She expects to earn an average annual return of about 5% by investing in a low-risk portfolio containing about 20% short-term securities, 30% common stock, and 50% bonds. Stefani currently has $44,300 that at an annual rate of return of 5% will grow to about $150,000 by her 65 th birthday (the $150,000 figure is found using time value of money techniques, Chapter 4 Appendix.) Stefani consults a financial advisor to determine how much money she should save each year to meet her retirement savings objective. The advisor tells Stefani that if she saves about $20.95 each year, she will accumulate $1,000 by age 65 . Saving 5 times that amount each year, $104.75, allows Stefani to accumulate roughly $5,000 by age 65 . a. How much additional money does Stefani need to accumulate over time to reach her goal of $500,000 ? b. How much must Stefani save to accumulate the sum calculated in part a over the next 25 years? a. To reach her goal of $500,000, Stefani needs to accumulate $ (Round to the nearest dollar.)