4. You want to save sufficient funds to generate an annual cash flow of $50,000 a year for 20 years as retirement income. You currently have no retirement savings but plan to save an equal amount each year for the next 30 years until your retirement. How much do you need to save each year if you can earn 8 percent on the savings? 5. You are buying a car for $20,000, paying $3,000 down in cash, and financing the balance for 24 months at 6.5 %, compounded monthly. What is the amount of each monthly loan payment