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(7) Gerald Goh is 35 this year and is planning for retirement. He intends to retire at age 65 and he is confident of achieving a nominal rate of return of 5% post retirement. Currently, his current expenditure is $7,500 monthly which includes $3,500 in mortgage payments which he will complete by age 50. The inflation rate is estimated to be at 2.5% and mortality age for males is at 82. What is Gerald's capital sum required at retirement? (5 marks) (8) Define what is a "Trust" and 2 advantages it has over a will