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For your retirement, you want to live on 19,000 per month while you are retired. Interest rates after retirement will be 7.5% APR compounded monthly.

For your retirement, you want to live on 19,000 per month while you are retired. Interest rates after retirement will be 7.5% APR compounded monthly. When you retire, you will spend 300,000 for a trip around the world. You plan to live 30 years after retirement, and leave 1 million for your kids. You have $3,000 to invest today, and 40 years to save up for this retirement. At a 11% APR compounded monthly, how much do you need to put in each month to accomplish your goals? (10)

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