William North has just inherited $610,000 which he would like to use as part of his retirement nest egg. He invested the funds at a 8.32 percent annual rate compounded annually. William will reach age sixty in 19 years and will retire early. Now he would like to know how much he could withdraw from the fund in equal installments at the end of each year from the year he reaches age 60 until he reaches age 7012 , the year he must start withdrawing funds from his individual retirement account (IRA). William assumes the funds will continue to earn at a 8.32 percent annual rate. In other words, William would like to know the annual year-end payment from an eleven-year annuity (from age 60 to the year he will be 701/2 ), earning 8.32 percent annually. Round the answer to two decimal places. Question 5 (1 point) Your client want to have $431,175 in 18 years, how much money should he put in a savings account today? Assume that the savings account pays you 6.9 percent and it is compounded annually. Round the answer to two decimal places An investor makes a nondeductible (after-tax) contribution of $2,561 to a traditional IRA. The IRA contribution grows at 10.98 percent after-tax rate of return compounded annually for 10 years when it is distributed. The distribution is subject to a 37 percent tax. Calculate the dollar amount of IRA distribution the investor is left with after paying taxes. Round the final answer to two decimal places. Now William knows that he will have 661,000 in his inheritance fund, when he will reach age sixty. He would like to know how much he could withdraw from the fund in equal installments at the end of each year from the year he reaches age 60 until he reaches age 701/2, the year he must start withdrawing funds from his individual retirement account (IRA). William assumes the funds will continue to earn at a 5.77 percent annual rate. In other words, William would like to know the annual year-end payment from an eleven-year annuity (from age 60 to the year he will be 701/2 ), earning 5.77 percent annually on a principal sum of $661,000. Round the answer to two decimal places