Q16) Today is Dereks 25th birthday. Derek has been advised that he needs to have $2,583,993.00 in his retirement account the day he turns 65. He estimates his retirement account will pay 4.00% interest. Assume he chooses not to deposit anything today. Rather he chooses to make annual deposits into the retirement account starting on his 30.00th birthday and ending on his 65th birthday. How much must those deposits be?

Q18) Derek decides that he needs $156,885.00 per year in retirement to cover his living expenses. Therefore, he wants to withdraw $156885.0 on each birthday from his 66th to his 89.00th. How much will he need in his retirement account on his 65th birthday? Assume a interest rate of 4.00%.