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Use the information for the question ( s ) below. Assume that you are 3 0 years old today, and that you are planning on

Use the information for the question(s) below.
Assume that you are 30 years old today, and that you are planning on retirement at age 65. Your current salary is $45,000 and you expect your salary to be fixed as long as you work. To save for your retirement, you plan on making annual contributions to a retirement account. Your first contribution will be made on your 31st birthday and will be 8% of this year's salary. Likewise, you expect to deposit 8% of your salary each year until you reach age 65. Assume that the rate of interest is 7%.
1) The present value (at age 30) of your retirement savings is closest to:
2) The future value at retirement (age 65) of your savings is closest to:

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