Linda is currently 38 years old and would like to retire at age 60. According to the statistics in 2020, the life expectancy of females in USA has increased to 88 years. As such, Linda wants to have enough saving when reaching 60 to support her post retirement life. Linda plans to have $3,500,000 in savings when she retires at 60. Currently Linda has a saving of $750,000. She would like to seek for your assistance in developing her retirement plan. 3. Assume that Linda will achieve the target retirement amount based on the plan above, and that she can earn an average of 7% on her portfolio during the entire post- retirement period. What is the maximum annual withdrawal she can make over a 28- year period of retirement? (6 marks) 4. How much savings would Linda need to have at the time of retirement to withdraw $375,000 annually over the 28 years if her retirement fund earns 6 percent per year? (6 marks)