Abby wants to save money to meet three objectives.

i$.$ First, he would like to be able to retire $30$ years from now with retirement income of $$20,000$ per month for $25$ years, with the first payment received $30$ years and $1$ month from now.

ii$.$ Second, he would like to purchase a condo at Mount Tremblant in $10$ years at an estimated cost of $$380,000.$

iii. Third, after he passes away at the end of the $25$ years of withdrawals, he would like to leave an inheritance of $$900,000$ to his nephew Johnny.

He can afford to save $$2,500$ per month for the next $10$ years. He expects to earn a $10\%$ EAR before he retires and a $7\%$ EAR after he retires,

QUESTIONS:

A$)$ How much will he have to save each month in years $11$ through $30($show all calculations$)?$

B$)$ Explain the impact on the amount he would have to save in A$)$ if his savings were a growing annuity $($no need for calculations$)?$