Assume that you contribute $6000 per year to your retirement account for 30 years and earn a rate of return of 8.25%.What would the value of the account be at the end of the 30 year period?Now that you have retired after 30 years of working, how much could you withdraw each year if the account continued to earn 6.25%, and exactly exhaust the retirement account over the next 20 years? (either the correct formula(s) or the correct key strokes must be shown here to receive credit).

Describe a reason or reasons that the amount you computed above for the balance in the account at the end of your 30 year working career probably understates the amount that will likely be in it?