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3 (1 point) Suppose that for retirement purposes, over the course of 22 years, you make monthly deposits of $280.00 into an ordinary annuity that
3 (1 point) Suppose that for retirement purposes, over the course of 22 years, you make monthly deposits of $280.00 into an ordinary annuity that pays an annual interest rate of 7.197% compounded monthly. After those 22 years, you then want to make monthly withdrawals for 21 years, reducing the balance in the account to zero dollars. a) Find the amount of money you have accumulated in the annuity over the first 22 years. $ b) How much should you withdraw monthly from vour account so that the balance reaches zero dollars after the final 21 years? $ Note: You can earn partial credit on this problem. You have attempted this problem 0 times. You have unlimited attempts remaining
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