Everything is the same except 40 years, until he is 60 years old (or 20 years), to receive $4,000 a month, after his 60^th birthday, continue for 30 years to age 90, at 5 percent, and Assume 5 percent.

Please solve showing steps using Texas Instruments BA calculator, thank you!!

-15 Paul Liles is 50 years old and he decides to set aside a fixed amount of money every year in a pension plan. He wants to start the plan now and continue until he is 65 years of age (or 15 years). The money accumulated must allow him to receive $3,000 per month, starting one month after his 65 th birthday and continuing for 20 years to age 85 . If the money is invested at 10 percent, how much does Mr. Liles need to set aside each month to meet his goal? Assume 10 percent discount rate for entire period