HW#$2$ Part B $(10$ Points$)$ Choose your Own Retirement Amount.

$*$Choose one number and then work the next two questions $1$ million

$2$ million

$3$ million

$10$ million

Choosing

lo million

You plan to retire after working for $35$ years. You estimate you need $($Pick One$)110$ million to retire and live comfortably. Assume time zero is today and you will retire at the end of $35$ years. Other opportunities exist to invest available capital elsewhere and earn a nominal $12\%$ interest rate each year compounded annually.

$($A$)5$ Points

What amount would you need to invest today $($time zero$)$ to fully fund your retirement of $ $35$ years from today

$($B$)5$ Points

What amount would you need to invest each year, including today $($Year $0$ through $35),$ to fully fund your retirement goal?