Swor Question 3 3. Mr. Anderson is considering retirement. His current total saving is $1 million, and he is looking for an inves opportunity with an EAR of at least 5%. (a) If some investment opportunities are quoted by APR with weekly compounding(there are 52 weeks eac what is the lowest quoted rate that is attractive to Mr. Anderson?(5pt.) (b) Suppose he successfully finds an investment opportunity promising an EAR of 5% per year, so he inves saving into that. If he needs $60,000 a year to support his current life standard, would his saving be enou support him to maintain his life standard for 30 years?Explain.(7pt.) BIU A -A- IE - XV G 12pt X - Paragraph X -