(Retirement Planing)

Now you are 22 years old, you want to retire ate age 65. You would like to have $70,000 semiannual payments until you are 103 years old. You inherit as a gift $60,000 at age 38 and $10,000 at the age of 48. Please calculate how much you have to save biweekly to receive $70,000 semiannually by the two following ways use R=8.5

A) Bi weekly payments without a gift

B) Bi weekly payment with gift.