Question 1 (25 points) You are celebrating your 30th birthday today and wants to start saving for her anticipated retirement at age 60. You expect to withdraw $105,000 from your savings account on each birthday for 20 years following your retirement; the first withdrawal will be on her 61th birthday. You intends to save your money into a bank account, which offers 7 percent interest per year. You want to make equal annual payments on each birthday into the account established at the bank for your retirement fund. a. If you start making these deposits on her 31st birthday and continues to make deposits until you're 60 (the last deposit will be on her 60th birthday), what amount must you deposit annually to be able to make the desired withdrawals at retirement? (12 points) b. Suppose you have just had a large sum of money. Rather than making equal annual payments, you have decided to make one lump sum payment on your 31th birthday to cover your retirement needs. What amount do you have to deposit? (5 points) c. Suppose, you expect a $150,000 distribution from your family trust fund on your 50th birthday, which you will also put into the retirement account. What amount must you deposit annually now to be able to make the desired withdrawals at retirement? (8 points)