Question 1 How much should you have in your CPF retirement account on your 65th birthday if you wish to withdraw $40,000 on that birthday and on each of the following 14 birthdays assuming that your CPF retirement account is expected to earn 4.0% per annum? Question 2 It will cost $20,000 per annum for 4 years to send your 8-year-old child to university. How much should be invested today if the first of the four annual withdrawals are to be made 10 years from today? The expected rate of return is 8% per annum. Question 3 You and your spouse are planning to buy a condominium apartment. If you take up a $1 million mortgage loan from Bank Z for 25 years at an interest rate of 5% per annum, what is your annual mortgage payment?