1) Mr. Leong is 30 years of age and intends to retire when he has RM400,000. He believes that he can save RM10,000 at the end of each year. Being risk adverse, he places his funds in fixed deposits earning only 5.0% pa. His savings at this point is RM20,000. At what age will he be able to retire? a. 53 years b. 51 years c. 68 years d. 70 years