After learning about time value of money and doing a few financial planning questions in FINE2000, Risha has decided on a plan that she will follow after graduation at age 22. She anticipates earning take-home pay of $4,000 per month and plans to set deposit $500 at the end of each month in a Tax Free Savings Account (TFSA) invested in a investment that is expected to average 0.75% monthly, equivalent to a 9% APR. Required: a) If Risha plans to retire at age 62, what is the expected value of her TFSA? (3 marks) b) Risha's friend, Tarun, plans to wait until age 32, but will start saving $750 per month at the start of each month until retirement at age 62. Tarun's portfolio will also earn 0.75% monthly. How much will Tarun's portfolio be worth when he retires? (3 marks) c) To avoid carry-forward issues, we will assume that the value of Risha's TFSA at retirement is $2,500,000. If Risha requires 35 years of retirement income, how much can she withdraw monthly if the portfolio rate of return continues to be 0.75% monthly? (3 marks) Answer all parts of the question in the text box below. Round your final answer to 2 decimal points