please solve asap

You are planning for a very earty retirement. You would like to retire at age 40 and have enough money saved to be able to withdraw $240.000 per year for the neat 30 years (based on family history, you think you will live to age 70 ). You plan to save by makhig 20 equal annual linstalliments (from age 20 to age 40 ) into a fairly risky irnestment fund that yoe expe will eam 14% per year. You will leave the money in this fund until it is completely deploted when you are 70 years old. (Click the icon to view Present Value of $1 table.) (Click the icon to view Present Valuo of Ordinary Annuity of 51 table.) (Click the icon to view Future Value of $1 table) (Click the icon to view Future Value of Ordinary Anfuity of $1 table.) Read the reguirements. Requirement 1. How much money mwst you accumulate by retirement to make your plan work? (Hint Find the presant value of the 3240 , 000 withdrawals.) (Round your final answer to the nearest whole dollar] To make the plan work, you must accumulate this amount by retirement Requirement 2. How does this amount compare to the total amount you will withdraw from the imvesiment during retirement? How can these numbers be so ditlerent? Over the course of your retirement you will be withdrawing However, by age 40 you only need to have invested These numbers are different because You are planning for a very early retirement. You would like to retire at age 40 and have enough money saved to be able to withdraw $240,000 per year for the next 30 years 1 on family history, you think you will five to age 70). You plan to save by making 20 oqual annual installments (from age 20 to age 40 ) into a fairly risky investrnent fund that you will earn 14% per year. You will leave the money in this fund untili it is completely depleted when you are 70 years old. (Click the icon to view. Present Value of $1 table.) (Ckick the icon to view Future Value of $1 table.) (Click the icon to view Present Value of Ordinary Annuity of $1 table) (Click the icon to view. Future Value of Ordinary Annuity of $1 table) Read the requirements. Over the course of your retirement you will be withdrawing However, by age 40 you only need to have invested These numbers are different because: A. You need to have the same amount accumulated as you will withdraw because you will not earn further interest on your investment when you reach retirement. B. You need to have far more accumulated than what you will withdraw because you will withdraw a large portion of the investment overy year-the balance remains invested where it continues to earn 14% interest. C. You need to have far less accumulated than what you will withdraw bechuse you only withdraw a portion of the investment every year-the balance remains invested where it continues to earn 14% interest. D. None of the above Requirements 1. How much money must you accumulate by retirement to make your plan work? (Hint Find the present value of the $240,000 withdrawals.) 2. How does this amount compare to the total amount you will withdraw from the investment during retirement? How can these numbers be so different? B. B. in C. You need to have farless accumulated than what you will withdraw because you only withdraw a portion of the investment ev Where it continues to earn 14% interest Present Value of $1 Done Reference Future Value of $1 Present Value of Ordinary Annuity of $1 Future Value of Ordinary Annuity of $1 0 a fairly risky if Reference 40,000 per ye 9 a fairly risky