You have been hired by Mr. Josiah Prince as a retirement planner.He has asked you to map out a plan for one of the first clients of his new firm Di/Rad Investments.The client, his good friend Ms. Jennifer Ledger, is now 25 years old, and wants to begin making deposits into her retirement account beginning on her 26^th birthday in December 2015.After interviewing Ms. Ledger, you have mapped out the following plan based on her tolerance for taking risks:

Dec. 2015-Dec. 2044: Make annual deposits into a high growth fund yielding 12.5% per year;

Dec. 2045: Move all funds into a mixed growth/income fund earning 8.0% per year.

Dec. 2045-Dec. 2059: Continue making annual deposits into the mixed fund;

Dec 2060: Move all funds into an income fund earning 4.0% per year.

Dec. 2060 - Dec. 2084: Withdraw $450,000 per year with the intention of depleting the account balance by the end of Dec. 2084

Ms. Ledger has budgeted $7,000 per year to be deposited into the fund between now and the end of Dec. 2044.You will need to advise her as to how much she will need to deposit each year between Dec 2045 and Dec. 2059 in order to reach her retirement goal.She also thinks that the risk of the high growth fund may be too much, so she is also asking you to make the calculations for a plan in which the first set of $7,000 deposits are made into an account earning 10% instead of the 12.5%, and to show her the differences between the two, preserving the goal of annual withdrawals of $450,000.

Mr. Prince has asked you to make the calculations and provide a one-page memo addressed to Ms. Ledger regarding her retirement plan.Include exhibits that show the results of your calculations for reference.

Also:Provide an answer to the following question:

Mr. Prince and Ms. Ledger most likely met at a:

1.Local tavern

2.Football game

3.Music festival

4.Art museum

5.Ski vacation

Explain your answer.