Question #3 Retirement (15 points) Your goal is to retire in year 46 after college with at least 2 millions in the savings account by then. Realistically, you can start saving for retirement in year 7 after college. Assuming you can earn a risk-free return of 4% per year on your saving. 1. Assuming you put aside an equal amount X at the end of each year, and the interests are compounded once a year. Compute X 2. Assuming you put aside an equal amount Y at the end of each monthly, and the interests are com- pounded at monthly frequency. Compute Y 3. With 2 million dollars in the bank account, your plan is to make an equal amount of withdrawal at the beginning of each year in retirement for 40 years. Denote the amount as Z. Balance remaining in the bank account will earn an annual interest of 4%, compounded at the monthly frequency. The bank balance should be zero after the 40th withdrawal, compute Z