The Gordon family are considering the following retirement plan: for the next 30 years, they will pay a fixed amount each year into a fund so that their accumulated savings will be $1 million in 30 years. How much must they pay into the fund each year over 30 years to finance their retirement with $1 million? a) If the fund earns 5% per annum the annual savings must be (approximately) $5,050. b) If the fund earns 5% per annum the annual savings must be (approximately) $25,050. c) If the fund earns 10% per annum the annual savings must be (approximately) $6,080. d) If the fund earns 10% per annum the annual savings must be (approximately) $16,080. e) None of the above