Question: Please if you don't know how to solve don't answer, let someone who knows answer I have gotten 5 questions wrong today 1. Derek decides

Please if you don't know how to solve don't answer, let someone who knows answer I have gotten 5 questions wrong today

1. Derek decides that he needs $138,541.00 per year in retirement to cover his living expenses. Therefore, he wants to withdraw $138541.0 on each birthday from his 66th to his 88.00th. How much will he need in his retirement account on his 65th birthday? Assume a interest rate of 8.00%.

2. Derek can deposit $220.00 per month for the next 10 years into an account at Bank A. The first deposit will be made next month. Bank A pays 13.00% and compounds interest monthly. Derek can deposit $2,595.00 per year for the next 10 years into an account at Bank B. The first deposit will be made next year. Bank B compounds interest annually. What rate must Bank B pay for Derek to have the same amount in both accounts after 10 years?

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