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Buarns retirns, he wants to withdraw $1.1 billion at the beginning of each year for 10 yeurs form a speidil selsturn account that will pay
Buarns retirns, he wants to withdraw $1.1 billion at the beginning of each year for 10 yeurs form a speidil selsturn account that will pay 19 percent annually. In order to fund hin: retirement, Mr. Burrs will make 30 vequal end-f the year deposins in this same spedal accoont that will pry 19 peccent annually. How much money will Mr Burna need at agi 100. and how large of an anewal deposit must be make to fund this refirement account? a. How much moeey will Mar Burns need when he retires? blikan (Round to three decimal places) b. How iarge of an annual depest must he make to fund this retiremert account? million (Round to hwo decimalplaces)
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