1.When Sinbad retires, he expects his IRA to pay him $2,000 at the end of each quarter for 26 years. If his retirement annuity earns 2.5% compounded quarterly,how much money does he need to have in his IRA when he retires?

2.At the age of 25, to save for retirement, you decide to deposit $130 at the end of each month in an IRA that pays 4% compounded monthly.

a.	Determine how much you will have in the IRA when you retire at age 65.
b.	Find the interest earned to that point.
c.	Determine how much you could withdraw from the IRA each month for the first 15 years of your retirement. (During retirement, assume the account is earning the same interest and is empty after the 15 years.)