7. An acquaintance has asked you about retirement. They want to know what their monthly payments need to be for the next 25 years if they wish to get $1000 every month starting one month after the 25 years. They would like to receive this every month for 25 years. If it is estimated that money in the account will get 1% compounded monthly, how much will the monthly deposits need to be? (Hint: Calculate how much you will need by the time retirement comes, then calculate the payment based on this value