You are trying to decide how much to save for retirement. Assume you plan to save $7,000 per year with the first investment made one year from now you think you can eam 75% per year on your investments and you plan to retire in 40 years, immediately after making your last 57,000 investment a. How much will you have in your retirement account on the day you retire? b. If, instead of investing $7.000 per year, you wanted to make one lump sum investment today for your retirement that will result in the same retirement serving, how much would that lump sum need to be? C. w you hope to live for 3 years in retirement, how much can you withdraw every year in retirement (starting one year after retirement, so that you will just haust your savings with the 25th withdrawal assume your savings will d. 1. instead, you decide to withdraw 5318,000 per year in retirement (again with the flest withdrawal one year after ring, how many years wake until you cahaust your savings? (Use trial and error, a financial calculator solve for " Nor Excel function NPER) . Assuming the most you can afford to save is 51,400 per year, but you want to retire with $1,000,000 in your investment account, how high of a retum de you need to eam on your investments? Use trial and error, a financial calculator solve for the interest of Excel function RATE) a. How much will you have in your retirement account on the day you retire? The amount in the retirement account in 40 years would be s Round to the nearest cent) b. Instead of Investing 57,000 per year you wanted to make one lumpsum Investment today for your retirement that will result in the same retirement saving, how much would that lump sum need to be? You will need to make one lump sum investment today of Round to the nearest cent) c. If you hope to live for 20 years in retirement, how much can you withdraw every year in retirement storting one year after retirement) so that you will just hast your savings with the 29th withdrawal (assume your savings continue to earn 75% in retirement? The amount you can withdraw every year in retirements Round to the nearest cent)