Frances retires from work with $700,000 in her superannuation account. She invests this money in a fund which earns interest paid monthly at a rate of j12=4.68% p.a. Frances plans to withdraw $4000 each month, starting in a month's time to cover her living expenses. a) After 5 years ( 60 payments) Frances has to have an emergency hip replacement procedure. This costs $110,000, and she pays for it withdrawing the money from her investment fund. Illustrate all of Frances' cashflow as a fully labelled time line diagram. [ 3 marks b) Determine how much this reduces how long she can now afford to live before she runs out of money. [4 marks]