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1) Quantitative Problem 1: You plan to deposit $2,000 per yearfor 6 years into a money market account with an annual return of3%. You plan to make your first deposit one year from today.a) What amount will be in your account at the end of 6 years?Round your answer to the nearest cent. Do not round intermediatecalculations. $b) Assume that your deposits will begin today. What amount willbe in your account after 6 years? Round your answer to the nearestcent. Do not round intermediate calculations. $2) Quantitative Problem 2: You and your wife are making plansfor retirement. You plan on living 30 years after you retire andwould like to have $80,000 annually on which to live. Your firstwithdrawal will be made one year after you retire and youanticipate that your retirement account will earn 15% annually.a) What amount do you need in your retirement account the dayyou retire? Round your answer to the nearest cent. Do not roundintermediate calculations. $b) Assume that your first withdrawal will be made the day youretire. Under this assumption, what amount do you now need in yourretirement account the day you retire? Round your answer to thenearest cent. Do not round intermediate calculations.