You want to supplement your retirement income through IRA contributions. You have 25 year left until retirement and you are going to make 25 equal annual deposits into your IRA until you retire with the first deposit being made at the end of year 1. You need to save enough so tha you can make 20 annual withdrawals that will begin at the end of year. 26. The first withdrawi will be $80,000, and each subsequent withdrawal will increase at a rate of 6% over the previot year's withdrawal. Determine the amount of the equal annual deposit using the following rate [ P
(T/A,6%
​
,6%,12%,20)](A/F,12%,25) γ 0
0,000/ 0.12−0.06
1−(1.06) 20
(1.12) −20
​
)[ 1.12 25
−1
0.12
​
] $6675.24 b. The interest rate is 6%