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After retiring, you want to be able to take $2,000 every month for a total of...

  1. After retiring, you want to be able to take $2,000 every month for a total of 20 years from your retirement account. The account has an annual rate of 4.1% compounded monthly. How much of the money paid out over the 20 years is the interest earned? Round your answer to two decimal places. (152,808.38)
  2. After retiring, you want to be able to take $3,500 every month for a total of 35 years from your retirement account. The account has an annual rate of 4.9% compounded monthly. How much will you need in your account when you retire? Round your answer to two decimal places. (702,348.65)
  3. A donor gives $250,000 to a university, and specifies that it is to be used to give annual scholarships for the next 40 years. If the university can earn 8% interest compounded annually, how much can they give in scholarships each year? Round your answer to two decimal places (12,257.44)

The answers are in the parenthesis please give me step by step in how to slove

Math   Statistics-And-Probability   
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