4. Earl and Larry each begin full-time jobs in January 2009 and plan to retire in January 2057 after working for 48 years. Assume that any money they deposit into IRAs earns 6% interest compounded annually. (A) Suppose Earl opens a traditional IRA account immediately and deposits $5000 into his account at the end of each year for twelve years. After that he makes no further deposits and just lets the money earn interest. How much money will Earl have in his account when he retires in January 2057? (B) Suppose Larry waits 12 years before opening his traditional IRA and then deposits $5000 into the account at the end of each year untill he retires. How much money will Larry have in his account when he retires in January 2057? (C) Who paid the most money into his IRA? 5. An ordinary annuity pays 6.48% compounded monthly. (A) A person wants to make equal monthly deposits into the account for 15 years in order to then make equal monthly withdrawals of $1,500 for the next 20 years, reducing the balance to zero. How much should be deposited each month for the first 15 years? (B) What is the total interest earned during this 35 year process? (C) If the person makes monthly deposits of $1,000 for the first 15 years, how much can be withdrawn monthly for the next 20 years?