Please Respond to the following: 1. What role does inflation play in the amount of money that people need to save for retirement? 2. If inflation goes up does that mean that someone needs more or:less.money for retirement? 3. Use the below table to calculate how much yearly income each salary level will need to get 85% of their preretirement income. 4. Luka is curious to know how much his pension is worth that will pay him $2,100 a month. He has just retired at the age of 65 . Use the above table to find out how much his pension is worth if he has the average life expectancy. Assume a riskfree," infiation-adjusted annual rate of 2.5%; also assume that he has no dependents or spouse so these extra payments will not occur when he is dead. 6. Let's suppose that Luka makes it to his 110 birthday. How much is his pension 7. Mia is thinking about moving her traditional IRA to a Roth IRA. Making this 9. What is probate? 10. What is the role of an executor of a will? 11. Find at least six different reasons that you may need a will or trust. 12. How could an estate plan be used to encourage an heir to go to college? 13. Why might it be advantageous to have a professional trustee versus a family member who acts as a trustee for your estate