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please show work Question I (Required) GIVEN: Francis Frugal has just turned 65 and is about to retire. She has $1,500,000 in her bank account

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Question I (Required) GIVEN: Francis Frugal has just turned 65 and is about to retire. She has $1,500,000 in her bank account and plans to live on $76,500 per year. A. If she lives to age 95, what is the minimum rate of return she needs to earn during retirement? (7 points) B. Oh no! Her three bachelor sons all suddenly lost their jobs and have to move back in with her. Poor Francis will have to spend $172,500 per year supporting herself and her three sons! What is the minimum rate of return she will now need to earn during retirement (7 points) C. Assuming the same discount rate as in part B., what single amount would Francis have needed at age 25 to support her entire family when she turned 65? (6 Points)

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