Question

I NEED ABSOLUTELY CORRECT ANSWERS FOR THESE.

Question 5 0.4 pts You have $792,065 in a retirement account that pays a nominal annual interest rate of 9%, compounded quarterly. If you plan to take a quarterly distribution for the next 12 years, how much could you withdraw each quarter? Enter your answer as follows: 12345 Round your answer. Do not use a dollar sign ("$"), any commas ("") or a decimal point (":"). Question 6 0.5 pts Kreskin deposits $6,011 every six months, increasing the amount deposited by 2.5% with each subsequent deposit. The account pays a nominal annual interest rate of 5%, compounded biannually (twice a year). How much will Kreskin have in the account at the end of 23 years? Enter your answer as follows: 12345 Round your answer. Do not use a dollar sign ("$"), any commas ("") or a decimal point (":")

Answer 1

PVOrdinary Annuity = C*[(1-(1+i/100)^(-n))/(i/100)]

C = Cash flow per period

i = interest rate

n = number of payments

792065= Cash Flow*((1-(1+ 9/400)^(-12*4))/(9/400))

Cash Flow = 27154

Please ask remaining parts seperately, questions are unrelated