(Complex present value) You are trying to plan for retirement in 8 years, and currently you have $110,000 in a savings account and $330,000 in stocks. In addition, you plan on adding to your savings by depositing $10,000 per year in your savings account at the end of each of the next 4 years and then $20,000 per year at the end of each year for the final 4 years until retirement.

a. Assuming your savings account returns 7 percent compounded annually, and your investment in stocks will return 12 percent compounded annually, how much will you have at the end of 8 years? (Ignore taxes.)

b. If you expect to live for 19 years after you retire, and at retirement you deposit all of your savings in a bank account paying 10 percent, how much can you withdraw each year after retirement (19 equal withdrawals beginning 1 year after you retire) to end up with a zero balance upon your death?

c. If your savings account returns 7 percent compounded annually, how much will you have at the end of 8 years in your savings account? (Ignore taxes.)