Question: solve this please Question 15 ( 5 points). Kevin is planning to work for 35 years from now and then he will retire. He wants

solve this please solve this please Question 15 ( 5 points). Kevin is planning to

Question 15 ( 5 points). Kevin is planning to work for 35 years from now and then he will retire. He wants to be able to withdraw $150,000 from his savings account in each year for 25 years following his retirement. The first withdrawal will be 1 year from the date of his retirement. As a personal financial consultant, you recommend Kevin to invest his money in the local credit union, which offers 7% interest per year. Kevin has decided that every year, he will deposit an equal amount in the account until his retirement. a. If Kevin starts making these deposits 1 year from now and continues to make deposits until his retirement, what amount must he deposit annually to be able to make the desired withdrawals at retirement? (2 points) b. Suppose Kevin has just inherited a large sum of money. Instead of making equal annual payments, he has decided to make one lump-sum payment today to cover his retirement needs. What amount does he have to deposit? (1 point) c. Suppose Kevin's employer will contribute $4,000 to the account every year as part of the company's profit-sharing plan. In addition, he expects a $150,000 distribution from a family trust fund 15 years from now, which he will also put into the retirement account. What amount should he deposit annually now to be able to make the desired withdrawals at retirement? (2 points)

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