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Bernice would like a monthly retirement income of $2,500 per month (end of month payments) for 15 years during her retirement. In addition, she would
Bernice would like a monthly retirement income of $2,500 per month (end of month payments) for 15 years during her retirement. In addition, she would also like a lump-sum payment of $10,000 on the day she retires to pay for a dream vacation. How much must she deposit into her retirement savings account at the end of each month in order to fund her retirement? Assume the account will earn j12=6% and that Bernice has 19 years until she retires
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