This annual gure from #3 is actually less than the Prof.'s current annual contribution, which makes her feel a little less anxious about her future planned retirement. Also, Prof. Business' annual retirement account contribution is based on a percentage of her salary and will increase as her salary increases. So, let's re-plan her retirement income. Let's account for the fact that her and the University's contributions to Prof. Business' University retirement plan are based on a certain percentage of her salary and will increase as her salary increases. Based on this formula, her rst upcoming end of the year deposit will be $20,200 and let's assume that her annual deposit and salary will grow at a 2% annual rate over the remaining 7 years (8 total deposits) to Prof. Business' retirement. These deposits are in addition to the $640,000 she currently has today in the University retirement plan. Answer the following based on these assumptions. a) How much money will Prof. Business have in her retirement account immediately after her last deposit 8 years from today? b) What would be the equal annual payment from her 20-year retirement annuity whose rst payment occurs exactly 8 years from today