Ernest Luther, of Montgomery, Alabama, age 60, was planning on retirement and investing well for is because he now tus $390,000 in tis retirement accounts and would tikely to have doubled that by age 67. But, he became permanentiy disabled after getting into a vehide accident almost a year ago, Round your answers to the nearest doltar. a. If his averoge earnings were $120,000, what would be his Social Securty disabity beneft? (Hint: Use Appendix-1.1) \$ per year b. Social Security Disability benefis end at age 65 and Emest will swhich over to Social Security Retirement benefis. What will his retirement benefit amount be at age 65 ? (Hint: Use Appendix B.1) 1 per year c. How much might Emest earn each year on his 1390,000 portfolio it is earns 7 percent? 8 d. How large an amount could be wehdrawn from his account each vear starting at aje 60 over 25 years of retirement? Use Appendx A-4 or the Garmanrorvue companion webste to solve for the enswer. Aound Present value of a Series of Equal Anounts in intermedate cakulations to four decimal places. 5. Aovise Ernest about his options. The nout in the bax belew mal not be graded, but moy be reviewed and considered by pour instructor: Estimates of Social Security Benefits for the Three Major Social Present Value of a Series of Equal Amounts (an Annuity of \$1 Received at the End of Each Period) Ernest Luther, of Montgomery, Alabama, age 60, was planning on retirement and investing well for is because he now tus $390,000 in tis retirement accounts and would tikely to have doubled that by age 67. But, he became permanentiy disabled after getting into a vehide accident almost a year ago, Round your answers to the nearest doltar. a. If his averoge earnings were $120,000, what would be his Social Securty disabity beneft? (Hint: Use Appendix-1.1) \$ per year b. Social Security Disability benefis end at age 65 and Emest will swhich over to Social Security Retirement benefis. What will his retirement benefit amount be at age 65 ? (Hint: Use Appendix B.1) 1 per year c. How much might Emest earn each year on his 1390,000 portfolio it is earns 7 percent? 8 d. How large an amount could be wehdrawn from his account each vear starting at aje 60 over 25 years of retirement? Use Appendx A-4 or the Garmanrorvue companion webste to solve for the enswer. Aound Present value of a Series of Equal Anounts in intermedate cakulations to four decimal places. 5. Aovise Ernest about his options. The nout in the bax belew mal not be graded, but moy be reviewed and considered by pour instructor: Estimates of Social Security Benefits for the Three Major Social Present Value of a Series of Equal Amounts (an Annuity of \$1 Received at the End of Each Period)