2. Tom sets up auto-payment for his monthly mortgage payments so that at the end of every month $2100 will be automatically withdraw from one of his savings accounts and sent to the mortgage company. This savings account pays a generous 1.75% monthly interest. He expects that he will need to make exactly 300 payments and his mortgage will be paid off. He wishes to move enough money from his other accounts into this one so that he won't need to worry about it running out of money. In addition, he also wishes to have $10,000 remaining balance in the account after the 300th mortgage payment. How much money will he need to put into the account right now so that it has enough for 300 monthly withdrawals and has $10,000 leftover as expected? 3. Ken hopes to be able to retire in 35 years. Suppose he plan to start depositing $180 into his 401(k) account every month with the first deposit to be made right away. Suppose his 401(k) account pays 0.55% per month. If he indeed retires after 35 years, how much will he have in his 401(k) account to support his retirement life? 4. Suppose you have savings of $8,000 in a bank account that pays monthly compound interest of 0.85%. You expect to withdraw $200 per month for 50 months from your account, with the first withdrawal starting a month from now. If there are no other deposits or withdrawals, is there any money left in your account after your 50m withdrawal? If so, how much is there? If not, how much have you overdrawn your account