Allison and nick anticipate they will require an annual income of $50,000 (in current dollars) when they retire 15 years from now. they expect to receive social security benefits of $20,000 per year at that time. in calculating their retirement savings need, the couple is assuming a 3% annual rate of inflation, an 8% return on investments, and a 25-year retirement period. using the level payment approach, how much will allison and nick need to save in an annual payment at the end of each year to fund their retirement need, without considering any social security benefit that may be available?

Cadbury has a chocolate factory in dunedin, new zealand. for easter, it makes two kinds of “easter eggs”: milk chocolate and dark chocolate. it cycles between producing milk and dark chocolate eggs. the table below provides data on these two products. demand (lbs per hour) milk: 500 dark: 200 switchover time (minutes) milk: 60 dark: 30 production rate per hour milk: 800 dark: 800 for example, it takes 30 minutes to switch production from milk to dark chocolate. demand for milk chocolate is higher (500lbs per hour versus 200 lbs per hour), but the line produces them at the same rate (when operating): 800 lbs per hour. a : suppose cadbury produces 2,334lbs milk chocolate and 1,652 lbs of dark chocolate in each cycle. what would be the maximum inventory (lbs) of milk chocolate? b : how many lbs of milk and dark chocolate should be produced with each cycle so as to satisfy demand while minimizing inventory?