You are thinking about retirement decide to put aside Rs 50,000 each year in a saving plan that earns 9% interest per annum. In 10 years, you will receive an inheritance gift from your grandparents Rs 1 million that can be invested.

Required:

1. How much money will you have accumulated 30 years from now?

2. If your goal is to retire with Rs 20 million of saving, how much extra do you need to save every year?