William is an industrious lawyer. After working in the legal field for more than 40 years, he is now planning for retirement in ten years' time. Currently, William has $2,000,000 in a savirgs account with Open Bank and some mutual fund ircvestnents worth $1,400,000 with Jubilee Assets management. He intends to increase his retirement savings by depositing $8,000 at the end of every month in his savings account for the next five years and increasing the amount up to $12,000 per month for the final fire jears until retirement. The savings account provides a 3% p.a. monthly compounded interest rate to William, while the mutual fund investments are expected to offer a 9% annual return to him. William believes he will lire 20 years more after he retires. Once he has retired, he will put all his wealth into another savings account with a 1.2% p.a. compounded monthly interest rate. When he dies, William would like to leare a lump sum of $5,000,000 to his daughter Jacqueline for her living expenses. Answer tte followirg questions: How much will William have at the end of ten years when he retired? With $5,000,000 set aside for his daughter upon his death, how much can William withdraw each month during his retiremerd? Assume William would like to withdraw $20,000 each month after his retirement. In order to achieve this goal, he has to transfer part of the money from his savings account to the mutual fund investment at the beginning. How much should William transfer