Hi, please list out the formulas where necessary , graphs where necessary , if the question doesnt require it, its fine not have it but please do put it down if it helps you to explain . Thank you!

Around the world, the long-run average annual real return on common stocks has been in the range of 5% - 7%3. For the sake of round numbers, we'll assume that the return going forward is 6%.

1. (a)Let's say that you're 22 years old and you expect to retire when you're 70 (note: the UK government currently plans for the retirement age to rise from 60/65 (for men/women) to 68/68 over the next few decades). If you suddenly find 1000 and put it in a tax-free ISA, how much real money will this yield when you're 70?
2. (b)Given an annual rate of 6%, what is the real effective total return (in %) over the whole 48 years of your saving? (NB: not the annual return.)
3. (c)Ifyouwanttouseupaconstantamountofthemoneythatyousavedinpart(a)each year after you retire, and you expect to live forever, how much can you consume each year?