Bol 1. You want to have $2 million to use for retirement in 3 of the policy are as follows: the purchaser retirement in 33yeas. AA insurance company is offering a new payments to AA the insurance company makes the folowing fve paymems $ 60000 in year 1 S 60000 in year 2 $ 70000 in year 3 $ 70000 in year 4 $ 80000 in year 5 ou will receive $1 million 3 on in 35 years. The relevant interest rate is 10 percent for the first 5 years and 5 persent r all subsequent years. equired: Calculate the present value of five payments. (5 marks) .Should you accept this policy? Why? (7 marks) If you are a financial consultant, please help insurance company to design a new policy which stomers to pay equal payment in the first five year and receive $2 million in 35 years. (8 marks) allows (20 marks)