You decide to open an individual retirement account (IRA) at your local stockbroker that pays 10 percent/year/year for the life of the account. You deposit \($2,000\) today to open the account. For the next 41 years, you will deposit

\($2,000\) per year into the account at the end of each year. There are a total of forty-two \($2,000\) deposits. Exactly 1 year after the last deposit, you will start making withdrawals.

a. What is the balance in the account immediately after the last deposit?

b. What annual withdrawal can you make if you want the withdrawals to last 15 years?

c. What annual withdrawal can you make if you want the withdrawals to last 20 years?

d. What annual withdrawal can you make if you want the withdrawals to last 25 years?