The Smiths save $36,000 per year for retirement. They are now in their mid-thirties, and they expect to have $2 million in today's dollars saved by the time they're in their mid-sixties. If their market interest rate is 7% per year, inflation averages 3% a year, and they save for 30 years, is their financial plan possible? Click the icon to view the interest and annuity table for discrete compounding when / = 7% per year. Click the icon to view the interest and annuity table for discrete compounding when /= 3% per year. OID The purchasing power in today's dollars of the Smiths' savings is $ thousand. (Round to two decimal places.) - X - X More Info More Info Discrete Compounding; / = 3% Discrete Compounding; i = 7% Single Payment Uniform Series Single Payment Uniform Series Compound Compound Capital Compound Compound Capital Amount Present Amount Present Sinking Fund Recovery Amount Present Amount Present Sinking Fund Recovery Factor Worth Factor Factor Worth Factor Factor Factor Factor Worth Factor Factor Worth Factor Factor Factor To Find F To Find P To Find F To Find P To Find A To Find A To Find F To Find P To Find F To Find P To Find A To Find A Given P Given F Given A Given A Given F Given P Given P Given F Given A Given A Given F Given P F/P P/F F/A P/A A/F A/P N F/P P/F F/A P/A A/F A/P 1.1593 0.8626 5.3091 4.5797 0.1884 0.2184 5 1.4026 0.7130 5.7507 4.1002 0.1739 0.2439 1.3439 0.7441 11.4639 8.5302 0.0872 0.1172 10 1.9672 0.5083 13.8164 7.0236 0.0724 0.1424 15 1.5580 0.6419 18.5989 11.9379 0.0538 0.0838 15 2.7590 0.3624 25.1290 9.1079 0.0398 0.1098 20 1.8061 0.5537 26.8704 14.8775 0.0372 0.0672 20 3.8697 0.2584 40.9955 10.5940 0.0244 0.0944 25 2.0938 0.4776 36.4593 17.4131 0.0274 0.0574 25 5.4274 0.1842 63.2490 11.6536 0.0158 0.0858 30 2.4273 0.4120 47.5754 19.6004 0.0210 0.0510 30 7.6123 0.1314 94.4608 12.4090 0.0106 0.0806 35 2.8139 0.3554 60.4621 21.4872 0.0165 0.0465 35 10.6766 0.0937 138.2369 12.9477 0.0072 0.0772 40 3.2620 0.3066 75.4013 23.1148 0.0133 0.0433 40 14.9745 0.0668 199.6351 13.3317 0.0050 0.0750 45 3.7816 0.2644 92.7199 24.5187 0.0108 0.0408 45 21.0025 0.0476 285.7493 13.6055 0.0035 0.0735 50 4.3839 0.2281 112.7969 25.7298 0.0089 0.0389 50 29.4570 0.0339 406.5289 13.8007 0.0025 0.0725 55 5.0821 0. 1968 136.0716 26.7744 0.0073 0.0373 55 41.3150 0.0242 575.9286 13.9399 0.0017 0.0717 60 5.8916 0.1697 163.0534 27.6756 0.0061 0.0361 60 57.9464 0.0173 813.5204 14.0392 0.0012 0.0712 65 6.8300 0.1464 194.3328 28.4529 0.0051 0.0351 65 81.2729 0.0123 1146.7552 14.1099 0.0009 0.0709 70 7.9178 0.1263 230.5941 29.1234 0.0043 0.0343 70 113.9894 0.0088 1614.1342 14.1604 0.0006 0.0706 75 9.1789 0.1089 272.6309 29.7018 0.0037 0.0337 75 159.8760 0.0063 2269.6574 14.1964 0.0004 0.0704