You are planning for your eventual retirement. You plan to make quarterly deposits of $2,500 into an IRA starting three months from today. The guaranteed annual interest rate is 4 percent, compounded quarterly. You are planning to retire in 10 years.

a. How much money will there be in your retirement account when you retire?

b. Using the preceding interest rate and the total account balance from part a., for how many years will you be able to withdraw $5,000 at the end of each quarter?