12. You decide to begin saving for your retirement days. You begin with depositing $300 per month into a savings account that is earning 12% per year compounded monthly. You make deposits faithfully for 25 years at which time you retire. Your institution wants to keep your money and as an incentive begins paying 15% per year compounded monthly provided you delay taking out any money for 4 years. After 4 years you decide to begin withdrawing equal payments for the next 20 years. What are the equal monthly payments that you can withdrawal if you want the account to last for 20 years? Ans = 13, 310 00022 13. What would the payments be if you wanted to withdrawal 20 equal yearly amounts? Ans = 162, 458