You believe you will need to have saved $590,000 by the time you retire in 30 years in order to live comfortably. If the interest rate is 6% per year, how much must you save each year to meet your retirement goal? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Annual savings

$

If investors are to earn a 4.0% real interest rate, what nominal interest rate must they earn if the inflation rate is (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.):

	Nominal Interest Rate
a. Zero	%
b. 5.0%	%
c. 7.0%	%