A) Assume you plan to retire at age 60 and you are going to live forever. You estimate your retirement needs to be $48,000 in the first year of retirement with that need increasing by 2% per year every year thereafter (to account for inflation). If you estimate you can earn a 10% return on your investments, how much do you need in your retirement account at age 60?

B) To have the above retirement fund by age 60, how much do you need to deposit annually if you are 30 years old now? Assume, you still can earn 10% return on your investment.

C) Instead of living forever, lets say you will live 40years after retirement. How much do you need in your retirement account at age 60?