12. Assume that a person who is 55 years old plans to retire in 10 years at age 65. S(he) will be able to save $1,000 per year for the next three years while his/her child is in college and $10,000 per year for the following 7 years. In addition, s(he) currently has $200,000 invested in common stock. (a) If his/her annual savings over the next 10 years are deposited in a bank account that pays 5% per year, and the stocks appreciate at the rate of 10% per year, how much money will the person have at age 65? (b) If the person expects to live to be 90, and if at age 65 deposits all of the money in a bank account that pays 5% annual interest, how much money can be withdrawn each year to end up with a zero balance? (This person expects to live 25 years after retirement.)