1) Mr. Harrison is retired, 67 year old, and has left his family. He has planned to donate his majority wealth to education system as charity after 7 years or death which ever takes place first. He maintains an active lifestyle consistent of frequent traveling and swimming. He is risk seeker and has total net wealth of $8Mn. He has decided to invest $6Mn but has no expertise in investment area. He wants to maximize his wealth so he can contribute maximum as his objective is to donate all the residual amount as he has kept $2Mn for his personal expenses and lifestyle goals.Ms. Alexis is 28 years old, and has one kid who is just 2 years old. Her husband died last month as he was suffering from Coronavirus. Alexis is working in a manufacturing company and her annual after tax income is $50,000/-. Her husband had savings of $400,000/- which now all pertains to Alexis. As per Alexis, she needs approximately $58,000/- per annum as she expects to maintain her standard of living. She further anticipates that from next year her son schooling will start which will cost her $12,000/- per annum. To enhance income, Alexis’s brother has suggested her to invest savings of her husband for future income needs and expenses. Alexis doesn’t want to engage herself for investment as she is already too much occupied with work and lacks in decision making.Assume current interest rate is 7%.Required:(a) Advise Mr. Harrison how and where he should invest his wealth before charity? Which type of investment will be best suitable for him in order to maximize his wealth? (b) Recommend Ms. Alexis why she should invest her husband’s saving? Which type of investment will be best suitable for her in order to maximize her husband’s saving?