Question: hi, can you please solve these two Qs for me. Good News: You will be a millionaire by the time you retire in 45 years.

hi, can you please solve these two Qs for me.

Good News: You will be a millionaire by the time you retire in 45 years. Bad news, inflation during your lifetime is expected to average 3%.

a. What will be the real value of $1 million by the time you retire, in terms of today's dollars

b. What real annuity (in today's dollars) will $ 1 million support if real interest rate at retirement is 2% and annuity must last for 20 years?

2- A cottage is for sale for 580,000$. Currently it generates annual cash flows net of all expenses and taxes, of 35,000$. If the cottage lasts forever, what rate of growth of the annual cash flows will be necessary for you to earn an 8% annual rate of return on your investment?

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