are both these question true or false?

1. You are 20 years old. You plan to work until you are 80 years old. When you turn 80 you will retire. You expect to live until an age of 95. You have forecasted that you will need $50,000 a year in income for your retirement.

Your current salary is $45,000 per year. You expect your salary to grow by 0% per year.

You will save 5% of your gross income each year.

You will invest your savings in risk free treasury notes that are expected to yield 3% each year.

Based on this information you will have accumulated enough wealth to finance your retirement.

2.You are considering two investment contracts that each cost $1,000. You will chose the one that has the highest future value. The rates of return offered by each contract are the following. Both contracts are issued by a company with a AAA credit rating. Contract B is the better choice.

Contract A: Annual rates of return		Starting balance for contract A and B		Contract B: Annual rates of return
0.05%		$1,000		1%
0.05%				1%
0.05%				1%
0.05%				1%
0.05%				1%
0.05%				1%
0.05%				1%
2%				1%
2%				1%
2%				1%

True or False