2b. Your company bought an annuity from Rock Solid Life Insurance Company for RM200,000 when company director retires. In exchange for the RM200,000, Rock Solid will pay the director RM25,000 annually until director dies. The interest is at 5 percent. How long must the director outlive after retirement to get more value from the annuity scheme bought by the company? (8 marks) 2c. Your company would like to contribute towards staff welfare fund to sponsor for the staff education program. The company would like to provide RM300,000 each year forever to the welfare fund beginning of year-5. How much does the company need to deposit into the welfare fund account now, so that by beginning of year- 5 , there is enough money for the sponsorship. Assume the interest rate is at 5 percent for all the periods