Write a short essay of 300 words for each of the following questions.For each question, illustrate with an appropriate example in your answer.
a. Describe the ‘profit maximisation’ concept and discuss why a finance manager who focuses on this approach will not likely to achieve the firm’s fundamental financial objective. 300 words
b. Explain how the concept of risk aversion may relate to investment decision making by corporate managers. 300 words

b. Explain how the concept of risk aversion may relate to investment decision making by corporate managers
Question 2
Edward intends to retire in 20 years. Upon retirement, he will require a yearly cash flow of $70,000 for 25 years to support his lifestyle (yearly cash flows assumed to occur at the end of each year). Anticipating his retirement plan, he started investing $6,000 per year five years ago and will continue to do so for 20 more years. How much more will Edward have to invest each year for the next 20 years to have the necessary funds for his retirement?

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