document.write( "Question 1200836: a) Carter expects to live for 30 years more after his retirement. He would like to withdraw \n" );
document.write( "$120,000 every year from his investment account (Account A) to pay for his living \n" );
document.write( "expenses. Carter’s investment account (Account A) pays 5% interest per year. \n" );
document.write( "How much money (a lump-sum) will Carter required to deposit in Account A at the beginning \n" );
document.write( "of his retirement (at age 60) to pay for his living expenses if\r \n" );
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document.write( "(i) Account A start to pay interest one year after his retirement? (5 marks) \n" );
document.write( "(ii) Account A start to pay interest on the day of his retirement? (5 marks)\r \n" );
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document.write( "[Hint: The total deposit that Carter made at the beginning of his retirement in Account A should \n" );
document.write( "be the same as the amount required to provide for the monthly living expenses during his \n" );
document.write( "retirement years.] \n" );
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