He is a husband and father of three children, two of whom are still dependent. He received a $155,000 lump-sum Doug Klock, 56, just retired after 31 years of teachit retirement bonus and will receive $2,800 per month from his retirement annuity. He has saved $145,000 in a 403(b) retirement plan and another $100,000 in othe ounts. His 403(b) plan is invested in mutual funds, but most of his other investments are in bank accounts eaming 2 or 3 percent annually. Doug has asked your advice in deciding where to invest his lump-sum bonus and other accounts no considering he has two children in college and a nonworking spouse. Because Rachel and Rhonda are does not intend to begin receiving Social Security until age 67 and his monthly benefit will amount to $1,550. He has grown accustomed to some risk but wants most of his money in FDIC-insured accounts. (Ignore income taxes in your calculations.) a. Assuming Doug has another account set aside for emergencies, how much can he withdraw on a monthly basis to supplement his reti investments return 5 percent annually and he expects to live 30 more years? b. Ignoring his Social Security benefit, is the amount determined in part (a) sufficient to meet his current monthly expenses? If not, how long will his supplementa 9 at he has retired. He also wants to know how much he can withdraw per month I in college, his current monthly expenses total $5,800. He ent annuity if his nonthly expenses remain at $5,800 per month? If his expenses are reduced to $4,600 per month? c. If he withdraws $3,000 per month, how much will he have in 11 years when he turns 67? If he begins to receive Social Security payments of $1,550 at 67, how many years can he continue to withdraw $1,450 per month from his d. If the inflation rate averages 3 percent during Doug's retirement, how old will he be when prices have doubled from current levels? How much will a soda cost when