Each year for the next 40 years, Carl will deposit an equal sum of money into a fund that pays 12% interest, to help pay for 25 years of retirement expenses. Starting 40 years from now ( at the end of the 40th period), she will make a lump-sum withdrawal in constant 2021 dollars=$500,00. This will be followed by equal annual withdrawals, in constant 2021 dollars, 25 years (period 41 through 65). The amount she will withdraw is $50,000 per year in constant 2021 dollars. The inflation rate is 3.5%. Use i' with constant dollars to solve for part B. Draw a cash flow diagram.

1- Calculate i'

2- Draw a cash flow diagram

3- Determine how much, in constant 2021 dollars must you deposit into the account each year?