Metlife is offering a "ML-A" that pays out $5,000 monthly from the end of Apr 2023 to the end of Dec 2040 with an interest rate 5.4% compounded monthly. a. Metlife plans to charge $680,000 for any investors buying "ML-A" on Jan 1, 2023, how much it should be worth on that day and please explain whether "ML-A" represents a good offer to any investor buying "ML-A" on Jan 1, 2023? (15 points) b. Now is the first day of October 2022, an investor is planning for retirement at the end of 2027 (Dec 31) and would like to pay an amount of money equal to the value of "ML-A" at that time ("ML-A" only pays $5,000 monthly after 2027 to the investor). He is deciding to save a lump-sum amount today in order to exactly cover the amount paid at the end of 2027 for "ML-A", how much he needs to save today with an interest rate 3.6% compounded monthly? (15 points) c. An investor buys "ML-A" on Apr 30, 2023 and every time he receives the periodic payment from it, he will immediately deposit 55% of each periodic payment received into a saving account offered by DBS with a 4.8% interest rate compounded monthly. How much will his saving account become at the end of Jan 31, 2041? (10 points) d. Due to the increase of investors' awareness of early retirement planning, sales of "ML-A" is gaining momentum. Metlife is planning to launch another product, "MLB", that starts to pay out every quarter from Mar 2023 to Dec 2040 (e.g. the last day of Mar, Jun, Sep...) with a rate of return 4\% compounded quarterly with a price of $1,200,000 on Jan 1, 2023. How much should "ML-B"' pay out per year? (15 points)