9. You are ready to retire. A glance at your 401(k) statement indicates that you have $2,500,000. If the funds remain in an account earning 5% annually, how much could you withdraw at the end of each year for the next 20 years? Round to two decimal places.

Please put in BA II Plus calculator format.

1. Develop the timeline (linear representation of the timing of cash flows)
2. Identify the time value of money variable which needs to be calculated in the question.
3. Identify the value of the remaining four variables (PV, FV, PMT, N, or Rate) from the question. Be sure to input positive or negative signs.
4. Calculate the correct value of the variable identified in step (ii).

10. If you wish to accumulate $400,000 in your childs college fund after 18 years and can invest at a 10%annual rate, how much must you invest at the end of each year if the first deposit is made at the end of the first year? Round to two decimal places.

Please put into BA II Plus calculator format.

1. Develop the timeline (linear representation of the timing of cash flows)
2. Identify the time value of money variable which needs to be calculated in the question.
3. Identify the value of the remaining four variables (PV, FV, PMT, N, or Rate) from the question. Be sure to input positive or negative signs.
4. Calculate the correct value of the variable identified in step (ii).