When you solve the above equation for the regular monthly payment R you get: R = A: 12 (1+13)" - 1 Use the formula for R to help you answer the following questions: 1) (2 pts) What is your current age? What is a realistic amount that you would like to have in your annuity account when you retire? 2) [4 pts] If you decide to begin investing in a retirement account at your current age, how much would you need to invest each month to reach your desired amount by the age of 67? 3) [4 pts) If you wait 10 years before starting to invest a monthly amount, how much would you need to invest each month if you want to reach your desired amount by the age of 67? 4) [4 pts) If you wait 20 years before starting to invest a monthly amount, how much would you need to invest each month if you want to reach your desired amount by the age of 67? 5) ][4 pts) Based on the results of your calculations in questions 2-4, what conclusions can you make? Give a thorough answer in 2-3 complete sentences