Ben Lim, 45 years old, owns 30% of the company. He has a depth of experience in operations management and plays a critical role in the operations of the company o Ben is married to Brenda and they

(b) One of the shareholders, Ben, asks you to calculate the amount he needs to provide for his dependants if he dies prematurely today. He would like to provide the following for his surviving dependants: household expenditure of $100,000 a year for 50 years, assuming an inflation of 3%.

Brendas tertiary education 13 years later; the current cost of the same program that she will be enrolling costs $200,000 today, with an education inflation rate of 6%. He does not think that his dependents can invest money successfully and have instructed you to assume 0% investment return to provide for absolute certainty for the needs in cash.