please answer each part! all one question together!!!! PLEASE DO NUMBER 5 !!!!!! will give thumbs up if each part is fully answered and explained

1. According to the IT Center, finance majors that graduated from School of Business in 2019 earned an average salary of $58,910 per year their first year after graduation. Assume that is the salary that you will earn following graduation at your first job when you graduate. If you earn a 3% raise, what will your salary be your second year on the job? What will your salary be in your fifth year? 2. If you start working when you are 20 years old, how much money what will your salary be when you are 65 (45 years later)? 3. According to financial planners, the average retiree requires approximately 70% of their last year's working salary (answer to #2) each year to live comfortably in retirement. Assume that you want to earn a fixed amount of interest each year in retirement. Your goal is to spend only the interest and still live comfortably. And, you want to earn the interest forever so that what remains can be passed onto your children, donated your favorite charity, or donated in honor of your favorite finance professor. That is, you want to earn a fixed amount, each year, for an indefinite amount of time. If you retire at 65 and can earn a 6% return, how much must you have saved to earn the required amount of interest? 4. If you die when you are 90 years old, how much money will be left to bequeath? 5. What if instead of saving for someone else, you expect to live until you are 90 years old at which point you plan to have spent all your savings. If you can earn 6% per year, how much must you have saved up at 65 to earn a 70% of your pre-retirement salary (answer to #2) each year until you are 90? How would your savings have to change if you can only earn 5% per year in retirement? 6. Assuming you can earn 6% interest and you plan to leave nothing to your heirs (as in question #4), how much of the principal amount of money that you saved do you still have left after 5 years? HINT: Treat this like an amortizing loan. The amount that you saved is like the loan amount and the payments are the amount that you use each year to spend on expenses. 7. Suppose that instead of being responsible, you spend $200,000 per year. How long will it be until you are broke? 8. Again, assuming you plan to leave your heirs nothing, if your investment earns 6% interest, how much will you have to put away each year if you start saving when you are 25 years old? What if you start saving when you are 35