9.A man establishes an annuity for retirement by depositing $50,000 into an account the ay 8.0% compounded monthly. Equal monthly withdrawals will be made each month for 5 years, tich time the account will have a zero balance. Each year taxes must be paid on the interest earned account during that year. How much interest was earned during the first year? Hint: The ant in the account at the end of the first year is the present value of a 4-year annuity. he i c