HOW TO GET THE ANSWER

No work - No Credite Q1) (50 points) A time line might be helpful to you; each part of the problem is related to each other; you could round up all number to two digits, for example: $345.88; you must show all steps. ~ Jim just turned 25 years old and plans to retire at 65. His retirement plan at work guarantees him $3,000 per year at the end of each year for the rest of his life after he retired. However, Jim goals are to have $60,000 at the beginning of each year of retirement and at 75 to take trip around the world with his wife; the trip total cost $275,000 and the money has to be paid at the beginning of the year. Jim will be retired for 25 years. The only investment opportunity Jim has from age 25 to 65 is investment that pay annual rate of return of 6% compounded quarterly. However, the only investment opportunity Jim has from age 65 to 90 is investment that pay annual rate of return of 8% compounded annually.