IRA investments develops retirement programs. You are 30years old and plan to re

IRA investments develops retirement programs. You are 30years old and plan to retire on your 60th birthday. You want toestablish a plan with the IRA that will require a series of equalannual end-of-year deposits into the retirement account. The firstdeposit will be made one year from today on your 31st birthday. thefinal payment on the account will be made on your 60th birthday.The retirement plan will allow you to withdraw $120000 per yearfor 15 years with the first withdrawal on your 61st birthday.Also at the end of the 15th year you wish to withdraw anadditional $250000. The retirement account promises to earn 12percent annually. What periodic payment must be made into theaccount to achieve your retirement objective?