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Mr . Moore is 3 5 years old today and wants to set aside an equal amount at the end of each of the next

Mr. Moore is 35 years old today and wants to set aside an equal amount at the end of each of the next 25 years so that he can retire at age 60. He expects to live to the maximum age of 80 and wants to be able to withdraw $25,000 per year from the account on his 61st through 80th birthdays. The account is expected to earn 10% p.a. for the entire period.
(i) What must be the balance in the account after 25 years in order for Mr. Moore to achieve his retirement objective?
(ii) Determine the size of the annual deposits that must be made by Mr. Moore to achieve his retirement objective?
Answer both questions and explain.

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