today is your 22nd birthday and you just began a first job. you want to put 500 every year into an investment account for retirement. your first deposit will be made today and last will be made on your 60th birthday. you plan to retire at age 61 and withdraw funds from your account in equal amounts every year starting on your 61st birthday and ending on your 75th birthday, leaving a zero balance in the account after your last withdrawl. you expect a return on your investment of 4% APR (compounded annually) from now until your last withdrawl. how much will you be able to withdraw each year in retirement?

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