4. Your client is going to have her 35th birthday in few days' time. She would like to retire on her 65th birthday. Her employer contributions to her superannuation will be $2,500 p.a. on each birthday, starting on her 35th birthday. She estimates that she will need $60,000 per annum to live on from her 65th birthday to her 95th birthday (inclusive). She estimates that she can earn 12% p.a. between now and her 95th birthday. (a) Can she afford to retire on her 65th birthday? Explain and demonstrate your answer with calculations. (b) Given her savings plan, how much can she expect to receive as income each year when she retires - that is, from her 65th to her 95th birthday? (14 marks) 3 | Page