You are trying to decide how much to save for retirement. Assume you plan to save $$$$4$ comma $500$ per year with the first investment made one year from now. You think you can earn $5\%$ per year on your investments and you plan to retire in$27$years$,$ immediately after making your last $$$$4$ comma $500$ investment.

a$.$ How much will you have in your retirement account on the day you$$ retire?

b$.$ If$,$ instead of investing $$$$4$ comma $500$ per$$ year, you wanted to make one$$ lump$-$sum investment today for your retirement that will result in the same retirement$$ saving, how much would that lump sum need to$$ be$?$

c$.$ If you hope to live for $15$ years in$$ retirement, how much can you withdraw every year in retirement$($starting one year after$$ retirement$)$ so that you will just exhaust your savings with the $15$th withdrawal$($assume your savings will continue to earn $5\%$ in$$ retirement$)?$

d$.$ If$,$ instead, you decide to withdraw $$$$20$ comma $000$ per year in retirement$($again with the first withdrawal one year after$$ retiring$),$ how many years will it take until you exhaust your$$ savings?

e$.$ Assuming the most you can afford to save is $$$$900$ per$$ year, but you want to retire with $$$$1$ comma $000$ comma $000\mathrm{.}00$ in your investment$$ account, how high of a return do you need to earn on your$$ investments?

Question content area bottom

Part $1$

a$.$ How much will you have in your retirement account on the day you$$ retire?

The amount in the retirement account in $27$ years would be $$$

$$

enter your response here. $($Round to the nearest$$ cent.$)$

PLEASE ANSWER ALL PARTS OF THE QUESTION!