Students are encouraged to show all thier work.

Dr$.$ Sandra Millhouse just celebrated her ${40}^{th}$ birthday. She works as a surgeon and earns $90,000$ per year. She dreams of retiring but needs your answering the following questions.

Assume that inflation is $3\mathrm{.}95\%$ and she would like to retire at age $65.$ Much would she need per year to maintain her current standard of living?

Using the number from the previous question, how much does she need to have in her retirement account on the day that she retires, assuming she plans on living until age $100$ and her investments can be $5\%$ during retirement?