You expect to retire in 40 years. Assume that you will live for 30 years in retirement, inflation will average 3%, and you can earn 6% on your retirement savings each year. Assuming you currently have $5,000 in savings and you do not wish to leave any money to anyone when you die, how much money will you need to save at the end of each year in order to have $30,000 a year in today's dollars in retirement? 1) Less than $6,000 Between $6,000 and $9,000 3) Between $9,001 and $12,000 4) Greater than $12,000