Retirement Income Calculation (4 pts) Beverly \& Bill have a capital need at retirement (to support their projected spending) of $1,200,000. This is based on the following: - 32 years of retirement living (RLE) - Nominal Return Rate of 7% for their investments - Inflation rate of 2.8% 1. What is the first year projected spending supported by capital? 2. How much could it be if the Inflation Rate was projected to be 3.5% (all other values unchanged)? 3. How much could it be if the Nominal Return Rate was projected to be 8% (all other values unchanged)? 4. How much could it be if the Nominal Return Rate was projected to be 6% (all other values unchanged)? 5. How much could it be if the years in retirement was projected to be 28 years (all other values unchanged)? 6. How much could it be if the years in retirement was projected to be 36 years (all other values unchanged)? (provide each answer with a" \( \$ " \)quot; sign and round to the nearest dollar) Retirement Income Calculation (4 pts) Beverly \& Bill have a capital need at retirement (to support their projected spending) of $1,200,000. This is based on the following: - 32 years of retirement living (RLE) - Nominal Return Rate of 7% for their investments - Inflation rate of 2.8% 1. What is the first year projected spending supported by capital? 2. How much could it be if the Inflation Rate was projected to be 3.5% (all other values unchanged)? 3. How much could it be if the Nominal Return Rate was projected to be 8% (all other values unchanged)? 4. How much could it be if the Nominal Return Rate was projected to be 6% (all other values unchanged)? 5. How much could it be if the years in retirement was projected to be 28 years (all other values unchanged)? 6. How much could it be if the years in retirement was projected to be 36 years (all other values unchanged)? (provide each answer with a" \( \$ " \)quot; sign and round to the nearest dollar)