Suppose the stated annual interest rate is 6%. Mike who is age 25 now and will receive a monthly wage of HK$15,DUD till retirement at age 65. - 1. What is the present value [at age 25) of Mike's total contribution to the program and what is the present value {at age 25} of Mike's future total benet from the pension (suppose he will die at age 85)? Compare these two present values and draw your conclusion. {5 points}- 2. Under what annual interest rate that these two present values are equal?r (5 points}- For salaries of HK$10,000 to HK$20,000, both would pay 1.5 per cent and for HK$20,000 to HK$120,000 the amount would be 2.5 per cent