+S The next question needs Excel.Hand in a correct written solution for 1% BONUS grade by next class on July 19,2023 Consider a defined benefit pension plan that has $110.000 in accrued investments for a single member/employee.The emplovee is expected to make another 10 end of period annual contributions of $10,000(i.e.last contribution is 10 years from today. After the last contribution the employee is expected to retire and draw S2500 per month in defined benefits, with the first draw coming one month after their retirement date.The plan expects to make these retirement payments for 15 a If the fund expects to earn 4% per year going forward,can the pension fund meet its promises If not, for how long can years,to the end of the average life expectancy of the member. these be kept up after the retirement. What is the sustainable monthly payouts that could be supported at this rate of b If 4% is not sufficient, what rate of return would the fund need to produce over the next 25 years to meet its objectives? return? c Assume the rate in part (b is not achievable and the fund needs pension contributions to increase immediately.At what Express the return as an effective annual rate. level of contributions will the fund go back into balance, i.e. So that it can meet the payouts with a 4% annual return
