Jenny is $30$ and graduated from Augsburg University and is working as a pharmaceutical representative Bristol Myers for $8$ years. Currently, she is married and has a monthly pretax income of $$9,000.$ Jenny$$s spouse contributes $$5,000$ per month to the household income. She is actively planning for retirement, which she aims to achieve in $30$ years. Jenny anticipates that she will need $$75,000$ yearly to cover her expenses. She also plans to invest her retirements savings in an Individual Retirement Account $($IRA$),$ with an expected average annual rate of $10\%.$

How much does Jenny need to save monthly to reach her retirement goal?

After retirement how much will her Individual Retirement Account contain?

How many total deposits were made?

$1.$ State the complete problem you are going to solve.

$2.$ Specify what formula$($s$)$ you need to use for each question you are going to answer on your problem. State the

name of the formula and also write it out.

$3.$ For each formula you use, state all the known values of the variables in the formula.

$4.$ Set up the formula with all the numbers inserted.

$5.$ Show the calculation details, including an answer with more decimals than you will actually need in your final

answer. This will show how you rounded your final answer.

$6.$ State the final solution, including units.