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show work plz 18. (10 pts) In order to withdraw $1100 per month for 2 years, you plan to make monthly deposits into an account
show work plz
18. (10 pts) In order to withdraw $1100 per month for 2 years, you plan to make monthly deposits into an account earning 7.294% interest compounded monthly for 4 years beforehand. (a) How much money will have to be in the account in order to be able to withdraw $1100 per month for 2 years? Round your final answer to 2 decimal places. (b) How much do you need to deposit each month, for 4 years, to accumulate the amount from part (a)? Round your final answer to 2 decimal places Step by Step Solution
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