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Pooja is 31 years old today and will retire at age 65. She will receive retirement benefits from government when she retires, but the benefits

Pooja is 31 years old today and will retire at age 65. She will receive retirement benefits from government when she retires, but the benefits are not going to be enough to make a comfortable retirement life for her. She has estimated that an additional $25,000 a year over her retirement benefits will allow her to have a satisfactory retirement life. How much should Pooja deposit today in an account paying 7 percent interest to meet her goal of having additional $25,000 a year in her retirement? Assume Pooja will have 20 years of retirement.

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