She is almost $60$ years old and believes that she is both willing and able to retire! She has amassed a $$1\mathrm{.}7$ Million fortune. She has these spending desires but anything that is left in the portfolio $($up to $$25,000)$ will be given to YOU to help you start your career, and the rest might go to any other nieces and nephews she may have!

She has these spending requirements and desires:

$1.$ $$60,000$ for a new car today.

$2.$ $$70,000$ today for a world cruise to remember

$3.$ She has a fondness for cruising, but does not want to overdue it and diminish the thrill. Also as she ages, she thinks that getting around may be more difficult. She has contracted with a travel agent to lock in the cost of $5$ additional cruises at the fixed price of $$10,000$ each $($paid when taken$).$ She will celebrate milestones on these birthdays with those cruises: $62,64,65,67,$ and $70.$

$4.$ She desires to have $$84,000$ a year for the rest of her life for annual expenses.

A$.$ She will need $84,000$ from the portfolio on her $60$th birthday to cover her for this coming year, and then on her birthdays from age $61$ to $66,$ she will withdraw another $84000.$

B$.$ At age $67$ she will begin collecting Social Security so from birthday $67$ through the rest of her life she will only need to withdraw $$51,000$ from the portfolio each year.

$5.$ At age $70$ she plans to trade in her current car and buy a car that will be able to adopt to her lifestyle then, which will either include more travelling, or less travelling. She is budgeting to spend $$70,000$ for that purchase.

$6.$ At the end of her life, which she hopes to be long, healthy and happy, she wishes to donate $$850,000$ to a charity to help study and cure amnesia so that others may not wonder about their lives for as long as she did. While she does not know when she will die, she knows that it will be at the end of the year, $($before another distribution of her $$51,000$ life annuity would be due$).$

She has contracted with a reliable insurance company that guarantees all of these payments and promises a $6\%$ rate of return.

Questions:

$1.$ How much will the insurance company require to cover these anticipated expenses?

$2.$ How much will be left from her fortune to be distributed to you and her other nieces and nephews?

$3.$ How big a check will you aunt give you for your graduation?