Question 3) (12 points) You are currently 27 years old and want to start saving for your retirement. You start off very determined and put aside $5000 every year (stariing 1 year from now) for 10 years (until you are 37). Finally, you get sick of saving and stop saving but leave your cumulative savings foolance plus earned interest) untouched for another 20 years (still earning interest) until you retire at age 57. Assume interest rates are 8% compounded semi-annually for the next 10 years (until you ure 37), and drop to 6.5% compounded quarterly after that. a) How much will you have saved at age 37 ? ( 4 points) b) How much will you have saved by retirement at age 57 ? ( 5 points) c) How much will you be able to draw each year (starting one year after you retire i.e. at 58) if you plan to live for 25 years after retirement? ( 3 points)