Ted has just turned 30 years old. he has currently accumulated $50000 toward h

Ted has just turned 30 years old. he has currently accumulated $50000 toward his planned retirement at age 60. He wants to accumulate enough money over the
next 30 years to provide for a 20-year retirement annuity of $120000 at the beginning of each year starting with his 60th birthday. He plans to save $5000
at the end of each year of the next 10 years. What equal amounts must he save at the end of years 11 through 30 to meet his objective? The interest rate for
the first 10 years will be 5%. After that time the interest rate is expected to be 7%.

Draw timelines and show all work/calculations.