Please show detailed work for each solution.

Assumptions $ for Savings (from Budget): Match Expected Return: Years: 19,456Use the annual number 3% 7% 35 Part Two Question Based on you're the money available for savings from your budget, how much money would you have when you turn 65, assuming you earn a 7% annual return on your investments? #1 Annual Savings (be sure to include the employer match) Total Amount at age 65 During retirement, your return drops to 5% annually as you decide to invest moreconservatively to protect your principal. How much could you spend each year and not have your money run out before age 95? #2 Part Three Assuming you have a retirement savings goal of $3 million at age 65, how much would you need to save monthly to meet that goal if you can earn a 7% annual return on your investments (assume you have nothing saved today and 35 years until retirement)? #1 Assumptions $ for Savings (from Budget): Match Expected Return: Years: 19,456Use the annual number 3% 7% 35 Part Two Question Based on you're the money available for savings from your budget, how much money would you have when you turn 65, assuming you earn a 7% annual return on your investments? #1 Annual Savings (be sure to include the employer match) Total Amount at age 65 During retirement, your return drops to 5% annually as you decide to invest moreconservatively to protect your principal. How much could you spend each year and not have your money run out before age 95? #2 Part Three Assuming you have a retirement savings goal of $3 million at age 65, how much would you need to save monthly to meet that goal if you can earn a 7% annual return on your investments (assume you have nothing saved today and 35 years until retirement)? #1