A wealthy woman decides on her 70th birthday to give most of her wealth to her family and worthy causes, retaining an amount in a trust fund sufficient to provide her with an annual end of year payment of $60,000. Assume she is earning a steady 15% rate of return on her investment.

How much should she retain to provide these payments until she is 95 (the last payment is 26 years later on the day before she is 96)?

If she dies on her 85th birthday, how much will remain in the trust fund?