Selma and Patty Bouvier are twins who work at the DMV and want to save for retirement 35 years in the future. Selma invests $1,900 per year for 10 years, totaling $19,000, earning an annual 8% return. Patty waits 10 years to start investing $1,900 annually for 25 years, totaling $47,500. The summary asks how much each will have saved at retirement.

1. (Saving for retirement-future value of an annuity) Selma and Patty Bouvier are twins and both
work at the Springfield DMV. Selma and Patty Bouvier decide to save for retirement, which is 35
years away. They'll both receive an annual return of 8 percent on their investment over the next 35
years. Selma invests $1,900 per year at the end of each year only for the first 10 years of the 35 -
year period-for a total of $19,000 saved. Patty doesn't start saving for 10 years and then saves $1,
900 per year at the end of each year for the remaining 25 years-for a total of $47,500 saved. How
much will each of them have when they retire? a. How much will Selma have when she retires?
(Round to the nearest cent.)