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6. I am planning to retire in 20 years from teaching. I plan to save $10,000 within a year and deposit it into an account

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6. I am planning to retire in 20 years from teaching. I plan to save $10,000 within a year and deposit it into an account that earns 7% interest per year. I also expect to collect $5,000 per year, starting 2 years from now, in child support that will end at exactly the same year I plan to retire. Draw the cash flow diagram (2 points) and determine: a. What is my total present worth? (4 points) b. What is my total annual worth? (4 points)

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