You would like to start saving for your retirement and are trying to figure out how much to save.You estimate that you will need $$350,000$ per year for the $35$ years you$$ll be retired. In addition, you$$d like to have an additional $$30,000$ in your third year of retirement to buy a boat. Assume that you plan to save an equal amount of money every year, starting next year for the $40$ years you will be working $($save in years $1-40,$ withdraw in years $41-75,$ buy boat in year $44)$ How much do you need to save each year if the interest rate is $9\%?$

$10.$

After deciding to buy a new car, you can either lease the car or purchase it on a four$-$year loan. The car you wish to buy costs $$38,000.$ The dealer has a special leasing arrangement where you pay $$3,800$ today and $$475$ per month for the next three years. If you purchase the car, you will pay it off in monthly payments over the next three years at an APR of $6$ percent. You believe you will be able to sell the car for $$26,000$ in three years. Should you buy or lease the car? What break$-$even resale price in three years would make you indifferent between buying and leasing?