You won 2nd place in the Wintario Lottery and just received your $375,000 cheque today! You have decided to deposit all the funds into your 6 ¼ % compounded annually savings account AND start making end of month withdrawals. If you would like the monthly payments to last exactly 30 years (before the money runs out): (4) a. How large can those monthly payments (or withdrawals) be? b. How much interest would you earn over the 30 years?

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A: *** This is the problem related to financial mathematics and we are advanced math expert and have…

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A: Here,  Pmt=15,000r=7.3%n=4t=10

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A: We can solve this using future value formula

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