When he turned 42, Jim started to contribute to his retirement account by making an annual deposit of $2500, which is matched by his employer by 150% in an ordinary annuity bearing 9.5 % interest, compounded semiannually. Answer the following related questions:

1.How much will he have available for him when he retires at 65?

2.If Jim wishes to have a total of $600,000 in his IRA when he retires, how much should be his own annual contribution? Consider the same (r) and (n) of question# 1.

3.How much should be his employer's share of annual contribution?

4.Suppose that Jim's contribution is $2000 but matched by his employer as double, this time (two for one). Also suppose that Jim's goal is to accumulate half a million dollar in his IRA. At what age should he retire to achieve that goal, given that his account bears 10% interest, compounded semiannually?

5.Instead of an ordinary annuity, suppose Jim is having an annuity due, how much will he have available for him when he retires at 65? (r, n, and A would be the same as in #1 above)

6.Still, Jim has an annuity due, How much should be his own annual contribution? (r, n, and FV would be the same as in #2 above)

7.How much should be his employer's share of annual contribution? (r, n, and FV would be the same as in #2 above)

8.Still, Jim has an annuity due, At what age should his retirement be to achieve that goal, given that his account bears 10% interest compounded semiannually? (r, A, and FV would be the same as in #3 above)