Question 2 You will retire 4 years from today. At retirement you need to pay $100, and then after a year $10, and finally two years after that (or on the end of the seventh year from today) a final $5 to buy an apartment in a continuing care facility. You have saved today $50, and you plan to save $40 next year and then $30 each year until and including the year of your retirement. The interest rate is 5 percent per year. Will you have enough money saved for your purchase?