I need some help: For this problem the age to use is 24 yrs.

(2.5 points)Using your present age, calculate the annual deposit you must make to an account so that you will have accumulated $1 million at retirement

Amount of annual deposit=___________

Calculated Using: n=_____, PV=________, I=____, FV=__________

Assume that you will retire on your sixty-fifth birthday.

Assume that you make your first deposit on your next birthday and the last deposit on your 65^th birthday.

Use the last digit in your student number to determine the interest rate.For example, if the last digit is 6, assume you can earn 6% on your savings, compounded annually; if the last digit is a 1, assume you can earn 1% on your savings; if the last digit is a 0, assume you can earn 10% on your savings.

(2.5 points)Calculate the amount that you can withdraw from your retirement savings each year so that is nothing left when you die.

Amount of annual withdrawal=___________

Calculated Using: n=_____, PV=________, I=____, FV=__________

Assume that your life expectancy is 85 years.

To simplify the problem, assume that each withdrawal is the same amount each year and that the first withdrawal is on your 66^th birthday and your last withdrawal is on your 84^th birthday.Use the same interest rate as Part 1.