a) You have $216,000 in an account earning 1.5% per year. You plan to make 15 annual withdrawals out of this account starting 4 years from today. What are the equal annual withdrawals you can make that will deplete the account at the end?

b) You'd like to buy a 40-foot used catamaran in 12 years for $454,000. You already have $56,000 saved in an account earning a monthly interest rate of 0.31%. Your plan is to make monthly deposits into this account in order to save enough to buy the catamaran. How much would you need to save monthly?