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(Compounding using a calculator and annuites due) Sptinglield mogul Montgomery Bums, age 75 , wasts to retire at age 100 in order to steal candy

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(Compounding using a calculator and annuites due) Sptinglield mogul Montgomery Bums, age 75 , wasts to retire at age 100 in order to steal candy fram babies tull time Onci Me Burns retires, he wants to withdraw $1 billion at the beginning of each year for 8 years from a speciat offshore account that will pay 24 percent annualfy in ordor to fund his retiremert, Mr. Burns will make 25 equal end-of-the-year deposits in this same spocial account that will pay 24 percent annualy. How much monerwill Mr Burns reed at age ted and how lage of an annual deposit must he make to fund this retitement accoun?? a. How much money will Mr Burns need when he reelres? 1. billion (Round to three decimal places) b. How large of an annuat doposit must he make to tund this retirement account? million (Round to two decimal places)

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