5. What if instead of saving for someone else, you expect to live until you are 90 years old at which point you plan to have spent all your savings. If you can earn 6% per year, how much must you have saved up at 65 to earn a 70% of your pre-retirement salary (answer to #2) each year until you are 90? How would your savings have to change if you can only earn 5% per year in retirement? 6. Assuming you can earn 6% interest and you plan to leave nothing to your heirs (as in question #5), how much of the principle amount of money that you saved do you still have left after 5 years? HINT: Treat this like an amortizing loan. The amount that you saved is like the loan amount and the payments are the amount that you use each year to spend on expenses.