Lucas has retired at age 78 with $830000 in his savings fund. He rolls the money into an annuity fund that earns 4% p.a. compounded monthly.

a) If Lucas wants the money to last until he is 95, how much can he afford to withdraw each month?

b) Lucas currently lives on $6000 per month. Will Lucas be able to maintain his current standard of living? Explain your answer. ** I need to define the following values to enter in TI84 calculator ** N = I = PV = PMT = FV = P/Y = CIY = I have to use "TVM" application to solve this (APPS -> FINANCE -> TVM solver)