Please list steps for how you calculated the answer. I've included a formula sheet we use in class. Thank you!

2. Charlie just graduated from the U of I with a degree in Ag and Consumer Economics. He has accepted a job offer with a company in Chicago at a starting salary of $70,000 per year. supervisor said that salaries typically increase by 2% per year on average. His Charlie would like to work for 40 years and then retire. What will his salary be when he retires? (6 pts.) a. 54,52.8 b. Assuming Charlie wants to be able to withdraw $160,000 each year during retirement and he would like to have enough money in his retirement account to last for 25 years, how much money does he need to have saved by the time he retires? You can assume his funds will earn 4% during retirement, and interest will be compounded annually. (6 pts.) How much does Charlie need to save each month to meet his retirement goal assuming a 6% annual return and monthly compounding while he is working and saving? (6 pts) c