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(7 points) At age 25 you begin making end-of-month payments of $250 at a nominal interest rate of i(12) = 4%, convertible monthly. You do
(7 points) At age 25 you begin making end-of-month payments of $250 at a nominal interest rate of i(12) = 4%, convertible monthly. You do this until you 65th birthday. You then transfer this money into a new account that earns an annual effective interest of i = 3%. On your 70th birthday you start making beginning-of-year withdrawals of $Q so the account for lasts until you are 100 (so 31 total withdrawals). Find $
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