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Mr . Burns, age 8 0 8 0 , wants to retire at age 1 0 0 . Once Mr . Burns retires, he wants

Mr. Burns, age 8080, wants to retire at age 100. Once Mr. Burns retires, he wants to withdraw $0.90.9 billion at the beginning of each year for 1010 years from an account that will pay 2525 percent annually. In order to fund these withdrawals, Mr. Burns will make 2020 equal end-of-the-year deposits in the same account(i.e., one that will pay 2525 percent annually).
(a) How much money will Mr. Burns need at age100, and(b) how large of an annual deposit must he make to fund this retirement account?
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Part 1
a. How much money will Mr. Burns need when he retires?
$enter your response here billion (Round to three decimal places.)
b. How large of an annual deposit must he make to fund this retirement account?

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