Question 2: Sarah has just turned 24 years old, and wants to retire when she turns 60. In retirement, she plans to withdraw $90,000 per year, at the beginning of each year, for the first five years of retirement. Sarah would also like to withdraw $60,000 per year, at the beginning of each year, for the subsequent fifteen years of retirement. In order to live comfortably for the rest of her remaining life, Sarah would like to have a cash balance of $450,000 in her bank account at the age of 80. Sarah expects the return on her investments to remain 7% per annum, compounding annually, over the saving period and only 4% per annum, compounding annually, over the retirement period. Required: a) How much will Sarah need to have in her bank account on the date of her retirement in order to fund her intended series of withdrawals? (5 marks) Please provide your answer inside this textbox: b) Sarah has recently started her own business that she is intending on paying off over the next six years, hence she will not be able to start saving for her retirement until she is 30 years of age. What equal annual amount must she save, at the end of each year (up to and including the year in which she turns 60), to meet her retirement goal? [3 marks) Please provide your answer inside this textbox: H c) Discuss the implications on Sarah's retirement plan if the market interest rates fell during her saving period from the rate she originally expected (e.g. fall below 7% per annum)? That is, what might be the impact of this reduction in market interest rates on her intended series of deposits and/or withdrawals? Calculations are not required to support your discussion. [2 marks) Please provide your answer inside this textbox