Chris is planning for her retirement at age 65. She assumes that i=6% for all of

her calculations.

a) Chris plans to save by investing every January 1 starting with $5,000 in 2021

and increasing her deposit by $1000 every year. Find Chris' projected

accumulated value on January 1, 2045.

b) How much income will the projected accumulated value from part a)

provide assuming that Chris buys a level 20-year annuity starting December

31, 2045?

c) Chris wants to take her retirement income as a 25-year annuity starting at $X

on December 31, 2040 and increasing by 2.25% every December 31.

i) How large should X be based on her projected accumulated value on

January 1, 2045.

ii) How much will she receive from this annuity in 2060?

Actuarial Science need steps, thanks!