a.	How much will you have in your retirement account on the day you retire?
b.	If, instead of investing $5,000 per year, you wanted to make one lump-sum investment today for your retirement that will result in the same retirement saving, how much would that lump sum need to be?
c.	If you hope to live for 20 years in retirement, how much can you withdraw every year in retirement (starting one year after retirement) so that you will just exhaust your savings with the 20th withdrawal (assume your savings will continue to earn 10% in retirement)?

Annual saving	$ 5,000
Interest rate	10%
Years to retirement	43
a. How much will you have in your retirement account on the day you retire?
Future value
b. If, instead of investing $5,000 per year, you wanted to make one lump-sum investment today for your retirement that will result in the same retirement saving, how much would that lump sum need to be?
Lump-sum investment
c. If you hope to live for 20 years in retirement, how much can you withdraw every year in retirement (starting one year after retirement) so that you will just exhaust your savings with the 20th withdrawal (assume your savings will continue to earn 10% in retirement)?
Years of withdrawal	20
Annual withdrawal
If, instead, you decide to withdraw $300,000 per year in retirement (again with the first withdrawal one year after retiring), how many years will it take until you exhaust your savings?
Annual withdrawal	$ 300,000
Number of periods
Assuming the most you can afford to save is $1,000 per year, but you want to retire with $1 million in your investment account, how high of a return do you need to earn on your investments?
Annual saving	$ 1,000
Future value	$ 1,000,000
Rate of return

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