7. Paul Adams owns a health club in downtown Los Angele ealth club in downtown Los Angeles. He charges his customers an annual tee of $400 per customer and has an existing customer base on mer and has an existing customer base of 700 people (year 0). Paul's the club is expected to grow at 9% annually. The overall expenses of running the and his personal life expenses are $125,000 a year and are expected to grow at the rate of 2 percent annually. After five years, Paul plans to buy a luxury boat for $500,000, CIOSE the health club, and travel the world in his boat for the rest of his life. What is the annual amount that Paul can spend while on his world tour if he will have no money left in the bank when he dies? Assume Paul has a remaining life of 25 years after he retires and earns 6 percent on his savings. DO NOT FORGET THE TIMELINE