1. You would like to have a retirement fund from which you will withdraw $3,200 at the end of each month for 20 years. (8 points) a) How much will you need to have in your account at retirement so that you will be able to receive those payments if your fund earns 6.5% compounded monthly? b) Luckily, you have some time to save up for retirement for the next 25 years. How much should you deposit in your retirement account each month in order to have saved the amount you need (your answer to part (a))? n=m.t I= Prt A= P(1+rt) r i=- m A= P(1+i)" (1/6) A -1 P nom = 1+ -1 df s=r0+' P=R1(1+i)* is R= (1+i)" - 1 Pi R= 1-(1+i)