**sunrise industries wishes to accumulate funds to provide a retirement annuity for its vice**

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sunrise industries wishes to accumulate funds to provide a retirement annuity for its vice presidentbr of research, jill

moran. ms. moran, by contract, will retire at the end of exactly 12 years. upon br retirement she is entitled to receive an

annual end of year payment of $42,000 for exactly 20 years.br if she dies prior to the end of the 20 year period, the annual

payments will pass to her heirs. duringbr the 12- year ampquot accumulation periodampquot, sunrise wishes to fund the annuity

by making equal, annual,br end-of-year deposits into an account earning 9% interest. once the 20-year ampquotdistribution

periodampquotbr begins, sunrise plans to move the accumulated monies into an account earning a guarantee 12% perbr year. at

the end of the distribution period, the account balance will equal zero. note that the firstbr deposit will be made at the

end of year 1 and that the firs distribution payment will be received at the end of year 13.br br to dobr a. draw a time line

depicting all the cash flows associated with sunrise039s view of the retirementbr annuity.br br b.how large a sum must

sunrise accumulate by the end of year 12 to provide the 20- year,$42,000 annuity?br br c.how long must sunrise039s equal,

annual, end-of-year deposits into the account be over the 12 year accumulation period to fund fully ms moran039s retirement

annuity?br br d.how much would sunrise have to deposit annually during the accumulation period if it could earn 10% rather

than 9% during the accumulation period?br br e.how much would sunrise have to deposit annually during the accumulation period

if ms. moran039s retirement annuity were a perpetuity and all other terms were the same as initiallybr described? br br br br

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