1. Don is planning for retirement. He has $25000 per year that he can invest 12500 semiannually to help fund his retirement. How much will the fund be worth in 14 years if he chooses a fund that pays 10 % and compounds semiannually?

2. How much should Don have in his pension fund today if he needs to withdraw $80000 annually in equal installments of $40000? Assume his investment fund guarantees a return of 10% and the fund compounds semiannually. Assume Don is 80 years old and expects to live to age 94.

3. How much should Don have in his pension fund today if he needs to withdraw $50000 annually in equal installments? Assume his investment fund guarantees a return of 6% and the fund compounds annually. Assume Don is 75 years old and expects to live to age 90.

Required) Calculate the amounts using the above scenarios using the manual method utilizing the tables.

I would like to request detailed explanations.