A. You are currently 60 years old and you reqire $500,000 per year for 20 years on retirement at age 65 years, which is 5 year from now. Your best estimate is that 20 years investment would earn 10% per annum.

B. As stated above you are 5 years from retirement. Currently you have 2,500,000 invested at 11% for 5 years period. How much more will you need at 65 based on your answer in (a) above. If the interest rate was 14% for the 5 years period. how much would you need?

C. Going back to (a) above, if the interest rate was 2 percentage point lower and the amount you required was 3 percentage point higher, how much would you need to invest at age 65?

D. If you modified (a) above as follows you requied $500,000 a year for the first 5 years. $650,000 a year for year 6 to 10 and 750,000 per year for years 11 to 20. the interest rate for the first 10 years was expected to be 12% per year but it would increase 15% in the last 10 years, how much would you need to invest at age 65?