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Trevor Smith wants to have $800,000 at retirement, which is 20 years away. He already has $150,000 in an IRA account earning 6 percent annually.

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Trevor Smith wants to have $800,000 at retirement, which is 20 years away. He already has $150,000 in an IRA account earning 6 percent annually. Starting next year, he plans to invest in a mutual fund the same amount every year until he retires. He expects to earn 9 percent annually with mutual fund investment. What is the minimum amount Trevor will have to invest every year to achieve his savings goal at retirement? O 5.366.78 6,233.95 O 15,940.18 O 7,045.32

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