5. Your client is 40 years old. She wants to begin saving for retirement, with the first payment to come one year from now. She can save $7,000 per year, and you advise her to invest in the stock market, which you expect to provide an average return on% in the future. She expects to live for 20 years after she retires at 65. If her investment continues to earn the same rate, how much will she be able to withdraw at the end of each year after retirement? a. $49,818 b. $47,773 c. $45,786 d. $44,676 e. $41,792 6. Your parents will retire in 22 years. They currently have $250,000 saved, and they think they will need $1,000,000 at retirement. What annual interest rate must earn to reach their goal, assuming they don't save any additional funds? a. 6.5090 b. 7.18% c. 8.3290 d. 9.76% e. 10.50% 7. Master Card and other credit card issuers must by law print the Annual Percentage Rate (APR) on their monthly statements. If the APR is stated to be 19.00%, with interest paid monthly, what is the card's EFF%? 18.58% 19,52% 20.75% 21.94% 22.65% a. b. c. d. e