Question 5 a) You want to retire at age 60 and expert to live another 27years. On the day you retire you will have GHC 464900 in your retirement savings account. You are conservative and expect to earn 4.5% on your money during your retirement. How much can you withdraw from your retirement savings account each month if you plan to die on the day you spend your last penny? b) Nana and Abena Sarfo are saving for the university education of their newborn daughter, Akosua. The Sarfos estimate the university expenses will run GHC 30000 per year when their daughter reaches university in 18years. The annual interest rate over the next few decades will be 14%. How much should they deposit in the bank each year so that their daughter will be completely supported four years of university? Assume she enters the university on her 18th birthday. c) You want to buy a house that cost GHC169000. You will put down GHC20000 deposits and borrow the difference to buy the house. The mortgage rate is 7.5% and the loan period is 30 years. Payments are made monthly. If you pay for the house according to the loan agreement, what will each payment be