$(1$ point$)$

Bill makes annual deposits of $$1000$ to an IRA earning $9\%$ compounded annually for $20$ years. At

the end of the $20$ years Bill retires.

a$)$ What was the value of Bill's IRA at the end of $20$ years?

Value of IRA $=$$

b$)$ What is the largest amount Bill may withdraw annually for the next $21$ years at $9\%$ compounded

annually?

Payment $=$$