Question 4 (40 points): Future Value and Present Value of an Annuity. (spend around 15 minutes on this) a) You save $10,000 in an account today (t=0). In addition, you save $5000 one year from today and then continue saving each year thereafter until 40 years from today (t=1 to t=40) when you will retire. Rate +10% per year Draw a time line to depict these cash flows. What is the future value of your savings 40 years from today (t=40) when you retire? b) You expect to spend your retirement savings at t-40 over 20 years after you retire. How much can you expect to withdraw and spend each year from year 41 onwards, if you expect to spend an equal amount each year for 20 years in retirement (t=41 to t=60). Suppose you earn 6% per year during retirement