Question: Suppose you want to withdraw $100 at the end of each month for five years from an account paying 4.5% compounded monthly. (i) How much

Suppose you want to withdraw $100 at the end of each month for five years from an account paying 4.5% compounded monthly.

(i) How much must you have on deposit at the beginning of the annuity?

(ii) How much will you receive in total?

(iii) How much of what you will receive is interest?

(Please include the calculations)

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