You wish to retire in 12 years. Currently, your retirement fund has $40,000 in a savings account yielding 5% annually and $500,000 quality stocks yielding 10% annually. Furthermore, you expect to add $10,000 to the savings account and $20,000 to your stock portfolios at the end of each year.

(i) Calculate how much you will have in your retirement fund when you retire.

(ii) Calculate the rate of return per year that you must earn on your retirement fund if you want to withdraw $186,550 at the end of each year for the next 15 years after your retirement.