Question $2(5$ points$)$

You currently have $$171,000$ in the bank. The bank offers interest rates of $2\%$ compounded annually.

a$.$ You want to retire in $25$ years from now, at the age of $67$ and have $$1,241,000$ in the bank at that

time. How much money do you need to put in the bank each year to achieve your goal? $(3$ marks$)$

b$.$ If you expect to live until the age of $87,$ how much money can you spend each year after you retire?

$(2$ marks$)$

$A=$

$B=$