A company wants to provide a retirement plan for an employee whos aged 45 now. The plan will provide him INR 2.4 million every year for 12 years upon his retirement at the age of 65. The company is funding this plan with an annuity-due of 20 years. The rate of interest is 7% per annum during the funding period and 6% per annum during the withdrawal period,

a) What should be the accumulated amount in the plan at the time of the retirement of the employee? b) What is the amount of the monthly installment that the company should pay?