After you reach age 70, you start withdrawing $6,000 every month until death. Also, you withdrew $30,000  on your 75th birthday. Determine the balance in the account on your 90th birthday.

Financial Management
Today, you celebrated your 25th birthday. You just landed a new job at Citi Bank. Citi provides you a 401-k plan, and you decide to deposit $300 every month for 10 years. Citi matches your 401-k at 100%  and pays interest at 7.2% compounded monthly. At the end of 15 years, you change the job to JP Morgan Chase, and you decide not to roll-over your 401-k to Chase. The money continues to earn interest at the specified rate when you are not working at Citi.
You join Chase on your 40th birthday. At Chase, you contribute 7% of your salary to the 401-k; deposits are made annually. Your starting salary at Chase is $70,000 and you expect to earn 2.5% pay raise every year. Chase matches your 401-k at 100% and pays interest at 6% per year compounded monthly. You retire from Chase when you reach 65.
While at chase, you get a letter from your previous employer, Citi stating that beginning your 50th birthday, the interest rate on your 401-k at Citi will go down from 7.2% compounded monthly to 4.8% compounded monthly. Since the new interest rate is lower than the interest rate at Chase, on your 50th birthday, you roll over the balance from Citi 401k to Chase 401k.
You had a hardship withdrawal of $50,000 at age 55. The money was returned to account at age 60.
On your 65th birthday, and you stop contributing to 401-k. Assume that you leave the money at Chase and not rollover to a retail account like Fidelity. The money will continue to earn interest.
a)Determine the total account balance in your Chase account on your 65th birthday.
b)After you reach age 70, you start withdrawing $6,000 every month until death. Also, you withdrew $30,000  on your 75th birthday. Determine the balance in the account on your 90th birthday.

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