You believe you will need to have saved $593,000 by the time you retire in 30 years in order to live comfortably. You also believe that you will inherit $113,000 in 5 years. (Do not round intermediate calculations. Round your answers to 2 decimal places.)

If the interest rate is 7% per year, what is the future value of your inheritance at retirement?

How much additional money must you save to meet your retirement goal, assuming you save your enture inheritance?