4. Karsten is preparing his will. He wants to leave the same amount of money to his two

daughters. His elder daughter is careful with money, but the younder daughter spends it

carelessly, so he decides to give them the money in different ways. How much must his

estate pay his younger daughter each month over 20 years, so that the accumulated

present value will be equal to the $50000 cash his elder daughter will receive upon his

death? Assume that the younger daughters inheritance earns 6%/a compounded monthly