math
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Suppose an individual makes an initial investment of $1100 in an account that earns 7.5%, compounded monthly, and makes additional contributions of $100 at the end of each month for a period of 12 years. After these 12 years, this individual wants to make withdrawals at the end of each month for the next 5 years (so that the account balance will be reduced to $0). (Round your answers to the nearest cent.)
(a) How much is in the account after the last deposit is made?
$ 1
(b) How much was deposited?
$ 2
(c) What is the amount of each withdrawal?
$ 3
(d) What is the total amount withdrawn?
$ 4

(a)The accumulated value=
1100(1+0.075/12)^144+ 100*((1+0.075/12)^1441)/(0.075/12)=$25942
(b)1100+100*144=15500
(c)The present value of the annuity=
25942=W*(1(1+0.075/12)^(60))/(0.075/12)
where Wthe amount of each withdrawal
W=519.82
(d)519.82*60=31189.47
Please check
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