6) You're 30 years old and you have a house that is currently worth $500,000. You also have a stable income from which you plan to put aside $8000 every year in your savings account until you retire at the age of 60. Assume that your savings account pays 5% per year (APR) and the price of your house appreciate 2% per year. a. How much will be your total wealth when you retire? (Your total wealth includes your house and your savings account) b. Let us assume once you retire, you cash out all your wealth (you sell your house and withdraw all the money that you have from your savings account) and put the money in an annuity plan, with 4% APR, that pays you a fixed amount of money per month for 20 Then these are the expenses you will have once you retire: You have pay rent, S3,500 per month for the next 20 years. (from 60 yo to 80 yo) Your other living expenses sum up to S4,500 per month for the next 20 years. (from 60 yo to 80 yo) . . Will your wealth at retirement be enough to cover all these expenses