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(Future value of a complex annuity) Springfield mogul Montgomery Bums, age 85, wants to retire at age 100 so he can steal candy from babies

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(Future value of a complex annuity) Springfield mogul Montgomery Bums, age 85, wants to retire at age 100 so he can steal candy from babies full fime. Once Mr. Burns retires, he wants to withdraw $1.1 bilion at the boginning of each year for 8 years from a special offshore account that will pay 24 percent annualiy. In order to fund his retrement, Mr. Burns wil make 15 equal end-of-the-yenr deposits in this same special acoount that will pay 24 percent annually. How much money will Mr. Bums need at age 100 , and how large of an annual deposit must he make to fund this retirement account? a. If the retirertent account will pay 24 percont annually, how much money will Mr. Bums need when he relires? bilion (Round to throe decimal places)

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