Q1) Jon wants to have $2000,000 in savings by the time he retires in 8 years. He has already accumulated $500,000 in investments earning an expected...

Q1) Jon wants to have $2000,000 in savings by the time he retires in 8 years. He has already accumulated $500,000 in investments earning an expected rate of 6% per year. How much will he have to save annually for each of the next 8years, beginning in 1 years time, to meet his goal? Assume that he can only earn a 4% return on his new savings but will continue to earn 6% on his current investments.

A. $121,554

B. $130,567

C. $162,792

D. $217,056

I'm getting D .. is it right?