Chantelle has inherited R1 000 000 from a distant uncle. She wants to invest this money for her retirement. She would like to be able to get a pension of R200 000 per annum in advance, paid to her from age 60 exactly for 20 years. Chantelle is exactly 22 years old now. Calculate the amount she needs to invest, earning 6% per annum in interest, in order to be able to afford such a pension, and state whether her inheritance will be sufﬁcient to buy such a pension. Ignore mortality and inﬂation.