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 $250,000 per year for the 30 years you'll be retired. In addition, you'd like to have an additional $100,000 in your fifth 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 35 years you will be working (save in years 1-35, withdraw in years 36 -65, buy boat in year 41). How much do you need to save each year if the interest rate is 9% for the years you are working (years 1 - 35) and will fall to 6% for the years you are retired (36 - 65).