Assume that today is your 22nd birthday and you have just graduated from Waterloo and accepted a job at BMO Capital Markets. Your starting salary is $100,000 and is all payable at the end of the year which just happens to be your 23rd birthday. You expect to get salary increases of 5% each year going forward. You expect to save 20% of your salary. You will save from the ages of 23 to 32 and invest those savings. You will retire after your 32nd birthday but will keep all of your investments and will not withdraw that money. Given the information above and assuming that you invest your savings in the stock market that generates a 7.0% return each year going forward... a) What is your salary on your 32nd birthday? (1 mark) b) What is the total amount of savings that you will have on your 65th birthday, assuming that you'll have a partner who covers all of your living expenses until then? (4 marks)