below are the 2 questions

Question1 Like man tw y married couples, Galvin and Adeline Goh are trying their best to save for and portant objectives: (1) an education fund to put their 2 children through college S30,000 per child (2) a retirement nest wach one starts college. Their children, Lilou and Milou, are currently aged 2 years old respectively. Galvin and Adeline have 6 years to save up for Milou years to save up for Lilou. As far as their retirement plans are concerned, Galvirn ire in 20 ycars when they both reach age 65. Galvin and and Adeline both hope to ret $1 of about $60,000 per year and estimate a period of 15 years in retirement. Adeline are both working and they currently earn a combined income of about 00,000 per year. When they retire in 20 years, they hope to have a retirement income Five years ago, Galvin and Adeline started a college fund by investing $5,000 a year in bank certificates of deposits, which earns an interest of 6% per annum. The Gohs have also recently received an inheritance of $80,000 and have invested it in several mutual funds. They also have a total of $75,000 in their CPF accounts currently. Galvin and Adeline feel that they will easily be able to continue putting away $5,000 for the next 20 years. In fact, Adeline thinks that they will be able to put away even more, particularly after the children are out of school. The Gohs are fairly conservative investors and feel they can probably earn about 6% on their money before and during their retirement