you're 30 years old and you have a house that is currently worth $500,000. you also have a stable income from which you plan to put aside $8,000 in your savings account until you retire at the age of 60. Assume that your savings account pays 5% per year (APR) and the price of your house appreciates 2% per year. a. How much will be your total wealth when you retire? (your total wealth includes your house and your savings account) b. Let us assume once you retire, you cash out all your wealth (you sell your house and withdraw all the money you from your savings account) and put the money in an annuity plan, with 4% APR, that pays you a fixed amount of money every month for 20 years. Then there are the expenses you will have once you retire (from 60 to 80 years of age) You have to pay rent $3,500 per month. Your other living expenses sum up to $4,500 per month. Will your wealth at retirement be enough to cover all these expenses?