Future value of a complexannuity) Springfield mogul MontgomeryBurns, age 70, wants to retire at age 100 so he can steal candy from babies full time. Once Mr. Burnsretires, he wants to withdraw 0.8 billion at the beginning of each year for 8 years from a special offshore account that will pay 22 percent annually. In order to fund hisretirement, Mr. Burns will make 30 equalend-of-the-year deposits in this same special account that will pay 22 percent annually. How much money will Mr. Burns need at age100, and how large of an annual deposit must he make to fund this retirementaccount?

a.If the retirement account will pay 22 percentannually, how much money will Mr. Burns need when heretires?