Mitomingi is Goventment afficst employed by AH Public ful hurity and expects to retire at conmulsouy temmsat the end of Documlse $2021$ after wyrking for $15$ years witl the Authonty. During the entite working period Milansingi has been contrituting bo the Plahlic pensaon fund $5\%$ of has salary while the employer was contnhuting $15\%$ as required by the lases and regalations

The roonds af his $12$ conseculive annual salantes are as shown lxelow

$\backslash$table$[[$Yeat$,$Animal Sallary $($Tshes$)],[2021,85,1010,1010$

live for $20$ years more after retirement during which the real rate of retum on the government bond is expected to be $4\%.$

Required:

i$.$ What would be the expected value of pension fund after $40$ years? $(5$ Marks$)$ ii$.$ What annual pension $($annuity$)$ should the person receive during $18$ years of retirement period?

$(5$ Marks$)$