Do all requirements and show work please.

You are planning for a very early retirement. You would like to retire at age 40 and have enough money saved to be able to draw $250,000 per year for the next 40 years (based on family history, you think you'll live to age 80). You plan to save for retirement by making 15 equal annual installments (from age 25 to age 40) into a fairly risky investment fund that you expect will earn 10% per year. You will leave the money in this fund until it is completely depleted when you are 80 years old. (Click the icon to view the present value annuity table.) (Click the icon to view the future value annuity table.) (Click the icon to view the present value table.) (Click the icon to view the future value table.) Requirements Requirement 1. How much money must you accumulate by retirement? (Hint: Find the present value of the $250,000 withdrawals.) (Round your answer to the nearest whole dollar) The present value is $0 - X Requirements for 40 nag mple con th b con To make your plan work, answer the following: 1. How much money must you accumulate by retirement? (Hint: Find the present value of the $250,000 withdrawals. You may want to draw a time line showing the savings period and the retirement period.) 2. How does this amount compare the total amount you will draw out of the investment during retirement? How can these numbers be so different? 3. How much must you pay into the investment each year for the first 15 years? (Hint: Your answer from Requirement 1 becomes the future value of this annuity.) 4. How does the total out-of-pocket savings compare to the investment's value at the end of the 15-year savings period and the withdrawals you will make during retirement? the ay e is Print Done er in the answer box and then click Check Answer. CASES Cat 1 Data Table ta Table Present Value of $1 Present Value of Annuity of $1 10% 12% 14% Periods 10% 12% 14% 16% Period 16% 1 0.909 0.877 0.943 1 0.909 0.893 0.877 0.862 0.893 0.567 5 0.621 0.476 5 3.791 3.605 3.433 3.274 0.519 0.270 10 0.386 0.322 0.227 10 6.145 5.56 4.833 5.216 6.142 15 0.239 0.183 0.140 0.108 15 7.606 5.575 6.811 7.469 20 0.149 0.104 0.051 20 8.514 6.623 5.929 0.073 0.038 25 0.092 0.024 25 9.077 7.843 6.873 6.097 0.059 0.033 30 0.020 0.012 30 9.427 8.055 7.003 6.177 0.057 0.036 35 0.019 0.010 0.006 35 9.644 8.176 7.070 6.215 40 0.022 0.005 0.003 40 9.779 8.244 7.105 6.234 0.011 0.006 45 0.014 0.003 0.001 45 9.863 8.283 7.123 6.242 Print Done Print Done Data Table Data Table Future Value of $1 Period Future Value of Annuity of $1 10% 12% 14% 1.000 1.000 1.000 16% Periods 10% 12% 14% 16% 1 1.000 1 1.100 1.120 1.140 1.160 5 6.105 6.353 6.610 1.611 1.762 1.925 2.100 10 15.937 17.549 19.337 6.877 21.321 51.660 2.594 3.106 3.707 4.411 15 31.772 37280 43.842 4.177 5,474 7.138 9.266 20 57.275 72.052 91.025 115.38 6.728 9.646 13.743 19.461 25 98.347 133.33 181.87 t 5 g 6 %%%%%% 17.000 40.874 30 164,49 241.33 249.21 530.31 1120.71 2360.80 356.79 26.462 50.950 98.100 85.850 35 271.02 431.66 10.835 17.449 28.102 45.259 693.57 180.314 40 442.59 767.09 29.960 52.800 93.051 163.988 1342.00 40 188.884 378.721 45 718.90 1358.23 2590.56 4965.27 72.890 363.679 795.444