Retirement is 50 years away and inflation rate is 3.6%:

a.What will be the real value of $1,000,000 by the time you retire in terms of todays dollars?

b. In todays dollars what real annuity will$1,000,000support if the real interest rate at retirement is 2.6% and the annuity must lastfor 20 years?

c. In todays dollars what real annuity will$1,000,000support if the real interest rate at retirement is 2.2% and the annuity must lastfor 30 years?