Now it$$s time for you to practice what you$$ve learned. Suppose that Alex is $40$ years old and has no retirement savings. He wants to begin saving for retirement, with the first payment coming one year from now. He can save $$12,000$ per year and will invest that amount in the stock market, where it is expected to yield an average annual return of $4\mathrm{.}00\%$ return. Assume that this rate will be constant for the rest of his$$s life. Alex would like to calculate how much money he will have at age $65.$ Using a financial calculator yields a future value of this ordinary annuity to be approximately $$at age $65.$ Alex would now like to calculate how much money he will have at age $70.$ Using a financial calculator yields a future value of this ordinary annuity to be approximately $$at age $70.$ Alex expects to live for another $25$ years if he retires at age $65,$ with the same expected percent return on investments in the stock market. Using a financial calculator, you can calculate that Alex can withdraw $$at the end of each year after retirement $($assuming retirement at age $65),$ assuming a fixed withdrawal each year and $$0$ remaining at the end of his life. Alex expects to live for another $20$ years if he retires at age $70,$ with the same expected percent return on investments in the stock market. Using a financial calculator, you can calculate that Alex can withdraw $$at the end of each year after retirement at age $70,$ assuming a fixed withdrawal each year and $$0$ remaining at the end of his life.