Q2: Peter is at the age of 25, and his friend David (an insurance/mutual fund broker) offered him a retirement savings plan investment opportunity. Please help Peter to calculate his initial investment amount for the financial product based on the following information.

a) Peter made the initial investment of XXXCanadian dollar at the age of 25;

b) When Peter retires at the age of 65, Peter finally can get annual amount of Cnd$20,000 for 20 years when Peterturns to the age of 85;

c) When Peter is at the age of 85, he can get the benefits for himself or his family value of Cnd$200,000

d) David/Insurance company assume the annual return is 7%

Please do the calculation How much cnd$ Peter made thedeposit for the investment at the age of 25 (suggest to draw the timeline for this case) illustrate the numbers based on time value calculations step by step; 40Marks