Your pension plan is an annuity with a guaranteed return of 4% per year (compounded quarterly). You can afford to put $1,700 per quarter into the fund, and you will work for 40 years before retiring.

How much money (in dollars) has accumulated in the retirement fund when you retire? (Round your answer to the nearest cent.)

After you retire, you will be paid a quarterly pension based on a 25-year payout. How much (in dollars) will you receive each quarter? (Round your answer to the nearest cent.)