7. You put $400 dollars into a bank account, take out $200 dollars after one year, then put in $100 dollars at the beginning of years 2-8. In year 9, you take out $200 dollars. At the beginning of year 10, you put $400 into the account. The interest rate is 4.5%. What is the future value of these cash flows after year 15? What is the future value of these cash flows after year 25? Include a cash flow diagram. monthly compounding? You begin to contribute to a 401(k) retirement plan at the age of 23. You add $200 per month because your employer will contribute a match of $200 per month (they match up to 3% of your salary and you know to take full advantage of this free money). Assume for simplicity that you will maintain this contribution for 40 years. A) What effective annual interest rate is required for you to have $1 million in 40 years? B.) What is the future value of this investment after 40 years if the annual interest rate is 3%? C.) When you retire in 40 years, you set a conservative estimate that you'll need to withdraw these funds until you're 103 years old. How much money can you withdraw each year? 9