Use the following information to answer each question.Allison wants to save for retirement. She is $20$ and wants to retire in $35$ years. She is considering two options and expects to earn an $9\mathrm{.}5\%$ annual return under each option.Use financial calculator and excel fo find answer.$$Option $1$: She is considering contributing $$6,500$per year to an IRA for $10$ years at which time she figures she will be tired of self$-$deprivation save no more. The invested funds, however, will continue to grow until she retires.Option $2$: Her other option is to spend all her money now and worry about retirement later.$$Under this plan she will contribute $6,000$ per year to her IRA every year from the time she's $25$ until she retires $25$ years later, thinking surely the extra contributions under this plan will make her better off.Question $1$: How much will Allison have for retirement under Option $1?$A$.$ $$1,279,699\mathrm{.}27$B$.$ $$977,876,57$C$.$ $$674,639\mathrm{.}85$D$.$ $$1,570,975\mathrm{.}14$E$.$ $$544,918\mathrm{.}36$Question $2$: How much will Allison have for retirement under Option $2?$A$.$ $$1,570,975\mathrm{.}11$B$.$ $$1,274,639\mathrm{.}85$C$.$ $$593,098\mathrm{.}57$D$.$ $$679,699\mathrm{.}27$E$.$ $$874,618\mathrm{.}52$Use the following information to answer each question.Allison wants to save for retirement. She is $20$ and wants to retire in $35$ years. She is considering two options and expects to earn an $9\mathrm{.}5\%$ annual return under each option.Use financial calculator and excel fo find answer.$$Option $1$: She is considering contributing $$6,500$per year to an IRA for $10$ years at which time she figures she will be tired of self$-$deprivation save no more. The invested funds, however, will continue to grow until she retires.Option $2$: Her other option is to spend all her money now and worry about retirement later.$$Under this plan she will contribute $6,000$ per year to her IRA every year from the time she's $25$ until she retires $25$ years later, thinking surely the extra contributions under this plan will make her better off.Question $1$: How much will Allison have for retirement under Option $1?$A$.$ $$1,279,699\mathrm{.}27$B$.$ $$977,876,57$C$.$ $$674,639\mathrm{.}85$D$.$ $$1,570,975\mathrm{.}14$E$.$ $$544,918\mathrm{.}36$Question $2$: How much will Allison have for retirement under Option $2?$A$.$ $$1,570,975\mathrm{.}11$B$.$ $$1,274,639\mathrm{.}85$C$.$ $$593,098\mathrm{.}57$D$.$ $$679,699\mathrm{.}27$E$.$ $$874,618\mathrm{.}52$