Danny has decided to retire once he has $1,000,000 in his retirement account. at the end of each year, he will contribute $7,000 to the account, which is expected to provide an annual return of 6.2%. how many years will it take until he can retire? 40 years 36 years 43 years 39 years 38 years suppose danny’s friend, hugh, has the same retirement plan, saving $7,000 at the end of each year and retiring once he hits $1,000,000. however, hugh’s account is expected to provide an annual return of 7.9%. how much sooner can hugh retire? 6 years 4 years 8 years 5 years 7 years after 25 years, neither danny nor hugh will have enough money to retire, but how much more will hugh’s account be worth at this time? $141,056 $139,984 $109,283 $289,671 $215,877 danny is jealous of hugh because hugh is scheduled to retire before him, so danny decides to make whatever end-of-year contribution is necessary to reach the $1,000,000 goal at the same time as hugh. if danny continues to earn 6.2% annual interest, what annual contributions must he make in order to retire at the same time as hugh? $7,751 $9,873 $16,452 $8,408 $13,241