III. Question 3 Use the following information regarding your retirement planning: You plan to work (and save) for 40 years, then retire (and spend money from your retirement account) for 25 years. After these 65 years, you expect that your retirement saving account will have $0 left. You plan to save $3,500 in year 1, and you will increase this amount by 4% a year You want your retirement spending to increase by 2.5% per year You expect to earn a rate of return of 7% during your working years and 4.75% during retirement To solve this problem, find the amount that you spend your first year of retirement. Solve