Tom just turned 45 years old on January 1. He wants to retire when he becomes 65. To support himself after he retires, he decides to save part of his salary each month for the next 20 years (assume that he gets his salary once a month and his first salary on January 31). His first salary is going to be $ 25,000, and it is expected to grow at a monthly rate of 0.25% for the next 10 years. He decides to save 20% of his salary every month for the next 10 years. The account where the saving will be invested has an APR = 6% compounded monthly. He plans to withdraw half of what he will have in the account ten years from today (leaving the rest of the money in the 6% account compounded monthly), and he will use the money to buy a property. He believes that at the time he retires the value of the property will increase by 50% and he will sell the property. Tom forecasts that he will live until he is 90 years old, and he wants $14,000 per month after he retires (his first withdrawal is going to be on January 31 one month after he turned 65 years old). Please note that his salary after 10 years from now is equal to $35000 ( assume also that the payment of $35000 occurs on January 31) and remains constant until his retirement. During that period (55 years-65 year old), he will save 10% of his salary on monthly basis and interest rate is still 6% compounded monthly, Will he have enough money when he retires to meet his post retirement financial needs? Show your work