Question 10 (Short Answer question - Chapter 4) You are 30 years old today and plan to retire at the age of 65. You are informed by an actuary that you will live to be 95. From the time you retire at age 65 you plan to withdraw 568,000 at the beginning of each year until you are 95 (30 years). How much money must you have in your bank account when you retire at age 65 to be able to afford the lifestyle you are planning for if the interest rate is 5 percent at that time? How much must you save at the end of each year for the next 35 years such that you can retire with the planned amount given the current interest rate of 6.5 percent