Home Use the following information to answer Questions 6 and 7: olua SMS non O papar Your father is low 50 years old. He plans to retire in 10 years and expects to live 5 years old. He wants an annual retirement income that has the same purchasing power $40,000 today his retirement income will begin the day he retires. Inflation is expected to be 5% per year. You father currently has $100,000 in his savings account which pays 8% per year compounded annually. He plans to deposit more money at the end of every year for the next 10 years. 6. How much will your father withdraw from his savings for his annual spending when he turned to a $40000 b. 585600 40, uwo e. S128744 d. $146292 logov. E m SIT