Question 6 (15 marks) You are about to complete your MBA and have just secured a high-paying job as a management consultant. As such, you have decided to focus on your retirement and want to start planning for your old age. You are currently 30 years old and plan on retiring at the age of 60 (in 30 years' time). You have the following retirement goals: Once you have retired you would like to be able to withdraw R30 000 per month for 20 years as well as leave an inheritance of R5 000 000 at the end of the 20 years. On your day of retirement, you would also like to purchase a vehicle to the value of R500 000. You would like to start a retirement fund today in order to reach these retirement goals. Suppose you already have R100 000 and will pay this amount into a retirement fund along with the required monthly payments for 30 years. You currently earn an interest rate of 8% per annum. Once you have retired, you will be able to earn an interest rate of 10% per annum. 6 a.) Calculate the amount of money you will require at your retirement date that will enable you to reach your retirement goals (monthly withdrawals as well as the car purchase). Show all your calculations 6 b.) What monthly payments will have to make in order to reach the required capital calculated in Q6a above